N-CSR 1 d521923dncsr.htm RIDGEWORTH FUNDS RidgeWorth Funds

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-CSR

 

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-06557

 

 

RidgeWorth Funds

(Exact name of registrant as specified in charter)

 

 

RidgeWorth Capital Management, Inc.

3333 Piedmont Road NE, Suite 1500

Atlanta, GA 30305

(Address of principal executive offices)(Zip code)

 

 

 

(Name and Address of Agent for Service)   Copy to:
 

Julia Short

RidgeWorth Funds

3333 Piedmont Road NE, Suite 1500

Atlanta, GA 30305

 

Thomas Harman, Esq.

Bingham McCutchen LLP

2020 K Street, NW

Washington, DC 20006

 

 

Registrant’s telephone number, including area code: 1-888-784-3863

Date of fiscal year end: March 31

Date of reporting period: March 31, 2013

 

 

 


Item 1. Reports to Shareholders.


 

LOGO

Collective Strength. Individual Insight.®

 

2013 ANNUAL REPORT

EQUITY FUNDS

MARCH 31, 2013

 

LOGO

 

RidgeWorth Investments® is the trade name of RidgeWorth Capital Management, Inc.

Collective Strength. Individual Insight.® is a federally registered service mark of RidgeWorth Investments.®


TABLE OF CONTENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Letter to Shareholders      1   
Management Discussion of Fund Performance   
Equity Funds:   

Aggressive Growth Stock Fund

     3   

International Equity Fund

     5   

International Equity Index Fund

     7   

Large Cap Growth Stock Fund

     9   

Large Cap Value Equity Fund

     11   

Mid-Cap Value Equity Fund

     13   

Select Large Cap Growth Stock Fund

     15   

Small Cap Growth Stock Fund

     17   

Small Cap Value Equity Fund

     19   
Allocation Strategies:   

Aggressive Growth Allocation Strategy

     21   

Conservative Allocation Strategy

     23   

Growth Allocation Strategy

     25   

Moderate Allocation Strategy

     27   
Schedules of Portfolio Investments      29   
Statements of Assets and Liabilities      59   
Statements of Operations      62   
Statements of Changes in Net Assets      65   
Financial Highlights      70   
Notes to Financial Statements      76   
Report of Independent Registered Public Accounting Firm      96   
Other Federal Tax Information      97   
Trustees and Officers of the RidgeWorth Funds      98   
Additional Information      100   


LETTER TO SHAREHOLDERS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Dear Valued Client,

We are pleased to report that both the economy and the broader markets continued to recover over the past year, despite persistent global economic and financial challenges. We are also pleased to report that RidgeWorth Funds maintained its strong long-term investment performance record. This update will discuss recent events and identify what we anticipate for both the broad economy and the capital markets in 2013.

Before we begin, we want to thank you, our valued RidgeWorth Funds’ shareholders, for your continued business and support. We focus all of our efforts on helping you achieve your investment goals, and we are grateful that you have placed your confidence in us. Our sole mission is to earn your trust through providing competitive investment performance and excellent client service. We sincerely hope we have met your expectations in both of these measures and we look forward to continuing as your asset manager in the future.

In last year’s letter, we discussed why we remained positive regarding our outlook for the economy and the markets: improving job growth, a continued recovery in housing, low interest rates, accommodative global monetary policy, and reasonable equity valuations. However, we cautioned that many of the challenges that affected the markets over the past several years would likely remain, including fiscal and financial strains in the European Union (“EU”), persistent unemployment, volatile energy prices, and record federal deficits. We also added to that list the growing political dysfunction in Washington and the potential damage that could result from going over the “fiscal cliff.” We suggested that the net effect of these forces would likely be continued, but slower than normal growth, and that this would persuade the Federal Reserve (“Fed”) to maintain its low interest rate policy.

Indeed, the economy experienced a soft growth patch at the beginning of the latest fiscal year that ended March 31, 2013. This sluggishness countered much of the unexpected strength early in 2012, and prompted many analysts to lower growth and earnings forecasts. While growth slowed noticeably, we believe it is important to note that employers did not use the environment to initiate a new round of corporate restructuring and effect widespread layoffs. Instead, they continued to leverage the improved efficiencies won during the painful recession and maintained cyclically solid profit margins, an important sign of stability. Moreover, underneath the surface strains in the economy, the consumer showed steady improvement as shown in increased auto purchases, higher home sales and prices, and falling loan delinquency rates. The steady, though only modest, growth in employment and incomes along with improving home values allowed the consumer to continue rebuilding his battered balance sheet and confidence.

While the consumer and business segments of the economy continue to recover, the federal government struggled with record budget deficits and unsustainable long-term spending commitments. The fiscal cliff battles resulted in higher payroll and income tax rates at the beginning of 2013, while efforts to reach a long-range budget compromise only resulted in a painful sequester fallback agreement that began on March 1, 2013. The effects on the economy of both of these events are only just beginning.

Against the generally improving domestic economic backdrop, the rest of the global economy experienced some weakness as shown in the recession in the EU and deceleration in the emerging market economies such as China and Brazil. With global economic growth still soft by historic standards, financial strains remained a key focus for central banks, and policy makers around the globe are feeling pressure to contain and alleviate the mounting stress. The banking failure in the tiny island nation of Cyprus in March 2013 reinforced the notion that the work to restore economic and financial stability is not over.

Despite worrisome events, strains, and crosswinds, both here and overseas, U.S. equity markets generated healthy returns and finished at record highs on the last day of March 2013. The benchmark S&P 500 Index returned just under 14% (13.96%) including dividends for the twelve months ended March 31, 2013, which was above the long-term average annual gain. The Russell Mid-Cap and the Russell 2000 (small cap) indices rose an even more impressive 17.30% and 16.30%, respectively. Defensive sectors such as Health Care, Consumer Staples, and Telecommunications outperformed during the 12 months, and the Value style bested the Growth style following an extended period of underperformance. Markets outside the U.S. improved but lagged domestic indices, with the MSCI EAFE and MSCI Emerging Markets indices up 11.27% and 1.96%, respectively.

Fixed income markets also shared in the advance during the past year, helped by the Fed’s decision to continue buying securities and from the global turmoil, supporting the belief that the U.S. Treasury market is the safest haven in the world. However, with Treasury yields hovering near record low levels, many investors preferred higher-yielding corporate and high yield bonds, which significantly outperformed the 3.77% gain in the Barclays Capital U.S. Aggregate Bond Index.

 

1


LETTER TO SHAREHOLDERS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2013

 

RidgeWorth Funds continued to maintain its record of strong long-term performance as 75% of our Funds beat their Lipper Peer Group medians for the 5-year period ended March 31, 20131. In addition, 75% of our Funds finished in the first or second quartile for the 10-year period1.

Looking ahead domestically, we expect the below-average growth and low inflation that characterized 2012 to continue in 2013, though we believe many of the economic headwinds of recent years, such as excess consumer leverage, may further dissipate. We anticipate modest job gains with less drag from the state and local governments and we believe housing will remain a neutral to positive influence on growth, wealth, and confidence. Corporate balance sheets are strong, cash positions are substantial, and inventories do not appear bloated, suggesting limited downside risk. Globally, we expect continued accommodative monetary policies and low interest rates. Valuations rose in the first quarter but they are still relatively attractive, in historical terms.

All that said, with the economy expanding the risks of setbacks should not be minimized. Key metrics we are following, in addition to those mentioned above, remain job growth, political, fiscal and monetary policy, EU stability efforts, income growth, housing prices, transportation data, stability in operating and net margins, consensus earnings, and cash flow estimates.

We believe the markets will continue to offer opportunities to investors, but they will be more selective and company-specific, an environment that fits well with RidgeWorth’s bottom-up approach to security selection. We at RidgeWorth wish to again thank you for the trust and confidence you have placed in us, and we look forward to another good year together.

Sincerely,

 

LOGO

Ashi Parikh

Chairman, CEO, CIO

RidgeWorth Investments®

 

1  For the period ended March 31, 2013, 50% (16/32), 56% (18/32), 75% (24/32) and 75% (21/28) of the RidgeWorth Funds (I Shares) beat their Lipper peer group medians for the 1-, 3-, 5- and 10-year periods, respectively. The Lipper rankings are as of March 31, 2013, for I Shares only, based on total returns and do not reflect a sales charge. ©2013 Lipper Leader, Reuters. All Rights Reserved. Lipper Ratings are according to Lipper, a Thomson Reuters Company. Past performance is not indicative of future results.

 

2


AGGRESSIVE GROWTH STOCK FUND

 

 

Portfolio Managers

 

Ÿ   Nancy Zevenbergen, CFA, CIC
Ÿ   Brooke de Boutray, CFA, CIC
Ÿ   Leslie Tubbs, CFA, CIC

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

Small- and Mid-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

 

 

MANAGEMENT DISCUSSIONOF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

With fiscal cliff and sequester headwinds addressed in a relatively undisruptive manner, equity markets were free to run in first quarter 2013, but the preceding nine months were difficult for active managers to deliver alpha in the face of consistently high equity correlations. Though growth strategies advanced, value was clearly favored for the entire year. Early Fund underperformance (primarily May 2012) was unable to be made up over the balance of the year (despite a rebound in first quarter 2013), and the RidgeWorth Aggressive Growth Stock Fund I Shares underperformed the Russell 3000® Growth Index (the Fund’s benchmark), 1.84% versus 10.42% for the fiscal year.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Stock selection within Technology and Health Care accounted for nearly 75% of relative underperformance for the period.

Shares of specific Information Technology holdings such as VeriFone Systems, Inc., a secure electronic payment solutions company and F5 Networks, Inc., a network-application delivery equipment company remained dis-favored by investors who believed the capex/investment cycle would further pressure hardware average selling prices and erode competitive advantages. Though equipment prices were not affected, both companies experienced delayed order development due to macro concerns. In conjunction with VeriFone’s reduced forward guidance and unexpected executive management changes, the position was sold during first quarter 2013.

Fund Health Care holding, MAKO Surgical was buffeted by lower than expected system sales and procedures. Management changes, sales compensation adjustments and continued lukewarm adoption of the RIO® system, a robotic arm technology for hip procedures, led us to use the position as a source of funds towards the purchase of other Health Care holdings that added value over the fiscal year.

Financials was the only sector to post annual relative outperformance. Portfolio Recovery Associates, Inc. (outsourced receivables management) reported four sequential quarters of revenue and earnings that exceeded expectations in testament to the company’s ability to recover “uncollectable” assets.

Though Consumer Discretionary holdings experienced modest relative underperformance, the Fund’s top two aggregate contributors hailed from the sector. Netflix, Inc. capped a turbulent year with shares gaining more than 64% for the period. Continued improvements to programming and user experience are driving higher retention and subscriber growth for domestic video streaming. Amazon.com, Inc. continues to benefit from online purchasing experience and demand for digital content. Aggressive investments and innovation by the company make it a disruptor in retail, cloud services, mobile devices, media and digital content. Rapidly growing smartphone and tablet users (proven to have higher propensity to spend online) should also provide a tailwind to revenues.

How do you plan to position the Fund, based on market conditions?

Despite four straight years of significant equity market returns, U.S. stocks still present an appealing risk-reward proposition for the years ahead. A broad-based push to reduce risk and volatility through over diversification provides more reason to believe in individual equity opportunities than any time in recent memory. Volatility creates opportunity. Valuations become extremely distorted when negativity rules. Embracing risk has allowed us to be opportunistic, tune out the noise during difficult environments and take a long-term ownership perspective. Stock specific risk is the lowest it’s been in the last 25 years, which alone could lead to fundamentally based stock selection as a winning strategy in coming years.

 

3


AGGRESSIVE GROWTH STOCK FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 2/23/04 (the inception date). Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 3000® Growth Index, which measures the performance of the broad growth segment of the U.S. equity universe. It includes those Russell 3000® companies with higher price-to-book ratios and higher forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Aggressive Growth Stock Fund   Inception
Date
     1 Year        3 Year        5 Year        Since
Inception
 

A Shares

   without sales charge   2/23/2004        1.63%           7.76%           6.48%           5.81%   
     with sales charge*            –4.22%           5.66%           5.23%           5.13%   

I Shares

       2/23/2004        1.84%           8.07%           6.78%           6.13%   
Russell 3000® Growth Index            10.42%           13.19%           7.44%           6.08% ** 
                                                      
Prospectus Expense Ratio1                                         Gross  
A Shares                                                  1.41%   
I Shares                                                  1.03%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75%.

 

** The performance return and the hypothetical $10,000 investment for the Russell 3000® Growth Index is for the period from 2/29/04 to 3/31/13.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

4


INTERNATIONAL EQUITY FUND

 

 

Portfolio Manager

 

Ÿ   Chad Deakins, CFA

 

 

INVESTMENT CONCERNS

 

International investing involves increased risk and volatility due to interest rate, currency exchange rate, economic, and political risks.

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The MSCI EAFE Index (the Fund’s benchmark) had an 11.27% net return for the one-year period ended March 31, 2013. The Belgian market led other international markets with a return of 27.69%. New Zealand, Australia and Switzerland followed with returns of 22.71%, 22.20% and 21.65% respectively. Italy and Israel lagged other markets with negative returns for the year, -6.81% and -6.09% respectively. MSCI EAFE Growth stocks led versus MSCI EAFE Value stocks marginally. Large caps beat small caps and developed markets led emerging markets.

The RidgeWorth International Equity Fund I Shares returned 10.38% for the fiscal year ended March 31, 2013.

What factors influenced the fund’s performance for the fiscal year ended March 31, 2013?

The Fund’s attention to the business cycle, strategic allocation and risk control resulted in an uneven outcome this year as the global economic recovery, while intact, softened. The Fund maintained an overweighting in cyclical sectors with the belief that the global economic recovery will continue. The global equity markets continue to rise. However, the defensive sectors such as Health Care and Consumer Staples led other sectors with returns of 26.24% and 20.96%, respectively.

How do you plan to position the Fund, based on market conditions?

As the global economic expansion matures, it remains clear that economic and fiscal health varies from country to country. While such an incident as a banking crisis in Cyprus could still emerge, central banks around the world have shown the resolve that they will act in a crisis and stimulate the economy in weakness. Global equity markets have priced in some positive trends in the global economy as markets are trading close to historic averages in terms of valuations. We are selective and await the earnings momentum improvements, which should support market trends while keeping valuations in check.

 

5


INTERNATIONAL EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Morgan Stanley Capital International Europe, Australasia and Far East (“MSCI EAFE”) Index, which is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. & Canada. The MSCI EAFE Index consists of 21 developed market country indices. EAFE performance data is calculated in U.S. dollars and in local currency. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

              Average Annual Total Returns as of 3/31/13  
International Equity Fund      1 Year      3 Year        5 Year        10 Year  

A Shares

   without sales charge        9.95%        4.87%           –0.96%           8.76%   
     with sales charge*        3.62%        2.81%           –2.12%           8.11%   

I Shares

          10.38%        5.19%           –0.64%           9.11%   
MSCI EAFE Index           11.27%        5.01%           –0.88%           9.70%   
                                              
Prospectus Expense Ratio1                                  Gross  
A Shares                                          1.40%   
I Shares                                          1.07%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75%.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

6


INTERNATIONAL EQUITY INDEX FUND

 

 

Portfolio Managers

 

Ÿ   Chad Deakins, CFA

 

 

INVESTMENT CONCERNS

 

International investing involves increased risk and volatility due to interest rate, currency exchange rate, economic, and political risks.

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Small- and Mid-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

It is important to remember that there are risks associated with index investing, including the potential risk of market decline, as well as the risks associated with investing in specific companies.

 

 

MANAGEMENT DISCUSSIONOF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The MSCI EAFE GDP Weighted Index Net Dividend (the Fund’s benchmark) had a 9.40% net return for the one-year period ended March 31, 2013. The Belgian market led other international markets with a return of 27.69%. New Zealand, Australia and Switzerland followed with returns of 22.71%, 22.20% and 21.65%, respectively. Italy and Israel lagged other markets with negative returns for the year, -6.81% and -6.09%, respectively. MSCI EAFE Growth stocks led versus MSCI EAFE Value stocks marginally. Large caps beat small caps and developed markets led emerging markets.

The RidgeWorth International Equity Index Fund I Shares returned 8.62 % for the fiscal year ended March 31, 2013.

What factors influenced the fund’s performance for the fiscal year ended March 31, 2013?

The Fund’s stratified sampling methodology and efficient management of cash flows allowed the Fund to perform as expected, in line with the index on a gross performance basis. The underperformance relative to the benchmark is a result of expenses incurred by the Fund.

How do you plan to position the Fund, based on market conditions?

As the global economic expansion matures, it remains clear that economic and fiscal health varies from country to country. While such an incident as a banking crisis in Cyprus could still emerge, central banks around the world have shown the resolve that they will act in a crisis and stimulate the economy in weakness. Global equity markets have priced in some positive trends in the global economy as markets are trading close to historic averages in terms of valuations. We await the earnings momentum improvements, which should support market trends while keeping valuations in check.

 

7


INTERNATIONAL EQUITY INDEX FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Morgan Stanley Europe Australasia and Far East (“MSCI EAFE”) GDP Weighted Index Net Dividend, which is a market capitalization index that measures market equity performance based upon indices from foreign and developed countries. The country weighting of the Index is calculated using the gross domestic product of each of the various countries and then with respect of the market capitalization of the various companies operating in each country. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/13  
International Equity Index Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

   without sales charge   8.33%        2.10%           –3.74%           8.17%   
     with sales charge*   2.08%        0.10%           –4.87%           7.54%   

I Shares

       8.62%        2.40%           –3.45%           8.53%   
MSCI EAFE GDP Weighted Index Net Dividend   9.40%        2.88%           –3.11%           9.20%   
                                           
Prospectus Expense Ratio1                               Gross  
A Shares                                  1.04%   
I Shares                                  0.78%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75%.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

8


LARGE CAP GROWTH STOCK FUND

 

 

Portfolio Managers

 

Ÿ   Christopher Guinther
Ÿ   Joe Ransom, CFA
Ÿ   Michael A. Sansoterra
Ÿ   Sandeep Bhatia, PhD, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. Common stocks, and funds investing in common stocks, generally provide greater return potential when compared with other types of investments.

Small- and Mid-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

Large cap stock can perform differently from other segments of the equity market or the equity market as a whole. Large capitalization companies may be less flexible in evolving markets or unable to implement change as quickly as smaller capitalization companies.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the RidgeWorth Large Cap Growth Stock Fund I Shares returned 3.64% while the Russell 1000® Growth Index (“benchmark”) returned 10.09%. The Fund underperformed the benchmark for the fiscal year as the defensive sectors of the benchmark performed well. Three of the Fund’s economic sectors lagged the returns for their comparable sectors within the Russell 1000® Growth Index—Health Care, Consumer Staples and Consumer Discretionary. The bright spot for the last 12 months was good stock selection within the Industrials sector.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The S&P 500 Index reached an all-time new high on the final trading day of March, while the Russell 1000® Growth Index broke out to the upside earlier during the fiscal year. Better than expected economic news coupled with reasonable valuations, steady job growth, rising home prices, monetary stimulus and improving global economic momentum propelled the market to a new high. While the new record for the market is good news, the power behind the move came mostly from the defensive sectors of the market—Health Care, Utilities and Consumer Staples. The pro-cyclical sectors dramatically lagged the broader market giving further evidence that investors are still nervous and climbing “the wall of worry”.

Problematic stock selection within the Consumer area of the market hampered short term results. Monster Beverage Corp., a Consumer Staples company selling energy drinks, declined in a rising market due to the product’s safety concerns and worries over slowing growth. Investors have been punishing the stock since the company reported disappointing earnings in November 2012. Green Mountain Coffee Roasters Inc., another Consumer Staples holding, also declined after reporting weaker than expected sales and earnings. Within the Consumer Discretionary sector, Coach Inc., a designer, marketer and distributor of handbags and accessories has been losing market share to a new competitor. Investors punished the stock fearing that the future growth will be less than expected. Several of the Fund’s Health Care holdings also lost value. Intuitive Surgical Inc., a robotic surgical systems company, declined by more than 10% as the company made cautionary remarks about the European Union’s macroeconomic weakness negatively impacting European procedure growth. In addition, several biotechnology stocks within the benchmark that were not owned in the Fund rallied causing additional relative underperformance.

How do you plan to position the Fund, based on market conditions?

The portfolio management team does not attempt to position the Fund based on predictions of macroeconomic conditions. The strategy utilizes a balanced approach to stock selection. This balanced approach, combined with multi-dimensional risk decomposition tools, allows the portfolio managers to control active risk through portfolio construction. The portfolio managers actively monitor the components of the systematic risk and aim to ensure that most of the risk relative to the index is derived from non-systematic (stock specific) risk. Sector rotation and tactical sector allocations are generally not utilized. The portfolio will be relatively sector and characteristic neutral to the index as the investment team attempts to generate alpha through superior, bottom-up stock selection. The team believes that its investment strategy is objective, balanced and designed to enable outperformance in most market cycles.

 

9


LARGE CAP GROWTH STOCK FUND

 

 

The Fund will invest in companies with reasonable valuations and improving fundamentals. Generally, the companies invested in will have shown year-over- year increases in operating margins, growth in revenues and exhibit improving financial returns as measured by return on incremental invested capital. By combining the income statement, balance sheet and cash flow metrics to evaluate earnings quality, capital efficiency and relative valuations, the portfolio managers avoid concentrating on a single attribute. Therefore, the team seeks to eliminate investment results that are directly attributed to market conditions and add alpha through stock selection.

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 1000® Growth Index, which measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® companies with higher price-to-book ratios and higher forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

              Average Annual Total Returns as of 3/31/13  
Large Cap Growth Stock Fund      1 Year      3 Year        5 Year        10 Year  

A Shares

   without sales charge        3.43%        11.56%           6.17%           6.37%   
     with sales charge*      –2.52%        9.39%           4.91%           5.75%   

C Shares

   without CDSC        2.69%        10.81%           5.44%           5.70%   
     with CDSC*        2.15%        10.81%           5.44%           5.70%   

I Shares

            3.64%        11.87%           6.47%           6.78%   
Russell 1000® Growth Index           10.09%        13.06%           7.30%           8.62%   
                                              
Prospectus Expense Ratio1                                  Gross  
A Shares                                          1.22%   
C Shares                                          1.80%   
I Shares                                          0.83%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

 

10


LARGE CAP VALUE EQUITY FUND

 

 

Portfolio Manager

 

Ÿ   Mills Riddick, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the RidgeWorth Large Cap Value Equity Fund I Shares returned 16.24% compared to a 18.77% return for the Russell 1000® Value Index (“benchmark”).

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The primary reasons for underperformance relative to the benchmark was stock selection in the Information Technology, Telecommunication Services and Energy sectors. In Information Technology, Hewlett-Packard Co. detracted from performance owing to worse than expected personal computer sales as Windows 8 was not the catalyst analysts anticipated. In Telecommunication Services, Windstream Corp. detracted from performance following the announcement that the company was discontinuing certain segments of business from its Paetec acquisition. As a result, investors feared that the company would have to cut its dividend, as similar companies had already cut their dividends. This put pressure on the company’s share price, leading to its underperformance. In Energy, Occidental Petroleum Corp. detracted from performance as returns deteriorated due to cost inflation. Management has since initiated a cost reduction plan.

Positive contributors to performance were stock selection and our underweight positions in the Utilities and Financials sectors. Stock selection in the Consumer Staples sector was also a positive contributor to performance. In Utilities, PG&E Corp. outperformed as risks surrounding the San Bruno fire began to dissipate. In Financials, BlackRock Inc. outperformed, beating first quarter earnings expectations and experienced increased asset growth in its active and passive funds. Additionally, BlackRock increased its quarterly dividend and share repurchase program. In Consumer Staples, ConAgra Foods Inc. positively contributed to performance as investor sentiment benefited from (1) the accretive realization of the Ralcorp. acquisition, plus (2) overall packaged food industry dynamics turning favorable given earlier elevated input costs which ultimately declined. Consequently, volumes improved on less pricing being necessary.

How do you plan to position the Fund, based on market conditions?

We believe that rising home prices, strong corporate balance sheets, accommodative fiscal and monetary policies and stabilizing global economic momentum will continue to drive equity markets. We take into account a number of near-term risks which include the perennial Eurozone crisis, rising geopolitical risks, specifically Iran and North Korea, the impact of a stronger dollar on corporate profits and the potential impact inflation may have if/when China’s economic growth accelerates. Defensive sectors have outperformed recently, primarily in the Health Care and Utilities sectors, but we believe mid to late stage cyclical stocks will drive near term performance and our Fund is positioned accordingly. As a result, our Fund is overweight Industrials and underweight the Financials and Utilities sectors.

 

11


LARGE CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

The Fund’s performance is compared to the Russell 1000® Value Index, which measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® companies with lower price-to-book ratios and lower expected growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/13  
Large Cap Value Equity Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

   without sales charge   15.93%        11.80%           6.56%           9.50%   
     with sales charge*   9.23%        9.62%           5.31%           8.85%   

C Shares

   without CDSC   15.25%        11.05%           5.82%           8.74%   
     with CDSC*   14.25%        11.05%           5.82%           8.74%   

I Shares

       16.24%        12.12%           6.87%           9.85%   
Russell 1000® Value Index        18.77%        12.74%           4.85%           9.18%   
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.40%   
C Shares                                       1.73%   
I Shares                                       0.89%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

 

12


MID-CAP VALUE EQUITY FUND

 

 

Portfolio Manager

 

Ÿ   Don Wordell, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Mid-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The RidgeWorth Mid-Cap Value Equity Fund I Shares appreciated 19.73% for the fiscal year ended March 31, 2013, underperforming the Russell Midcap® Value Index which returned 21.49% for the period.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Relative results during the period lagged due primarily to stock selection in the Materials and Energy sectors. In Materials, Cabot Corp. underperformed due to weak demand and modest pricing erosion in their business that serves the tires end market, as well as lower accretion estimates for their recent acquisition. In Energy, CARBO Ceramics Inc. detracted from performance as a result of declining drilling activity in the second half of 2012 and high inventories of competing products. This led to lower volumes and pricing pressure for their products.

Positive contributors to performance were stock selection in the Financials, Industrials and Utilities sectors. In Financials, Hartford Financial Services Group Inc. outperformed owing to several catalysts occurring in the back half of 2012 as the company sold off non-core business segments in an effort to transition to a group and property/casualty centric insurer. In Industrials, Cummins Inc. outperformed as investors were more optimistic about the Chinese economy and U.S. industrial destocking neared completion. In Utilities, NRG Energy Inc. contributed to performance due to improving sentiment in the stock from the execution of the GenOn acquisition and improvement in forward electricity prices.

How do you plan to position the Fund, based on market conditions?

We believe that rising home prices, strong corporate balance sheets, accommodative fiscal and monetary policies, and stabilizing global economic momentum will continue to drive equity markets. We take into account a number of near-term risks which include the perennial Eurozone crisis, rising geopolitical risks, specifically Iran and North Korea, the impact of a stronger dollar on corporate profits and the potential impact inflation may have if/when China’s economic growth accelerates. Defensive sectors have outperformed recently, primarily in the Health Care and Utilities sectors, but we believe mid to late stage cyclical stocks will drive near-term performance and our Fund is positioned accordingly. As a result, our Fund is overweight Industrials, Materials and Energy and underweight Utilities.

 

13


MID-CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell Midcap® Value Index, which measures the performance of the mid-cap value segment of the U.S. equity universe. It includes those Russell Midcap Index companies with lower price-to-book ratios and lower forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Mid-Cap Value Equity Fund   Inception Date      1 Year        3 Year        5 Year        10 Year        Since
Inception
 

A Shares

   without sales charge   10/27/03        19.43%           12.23%           11.06%           N/A           11.50%   
     with sales charge*            12.56%           10.03%           9.76%           N/A           10.80%   

C Shares

   without CDSC          18.75%           11.49%           10.33%           12.86%           N/A   
     with CDSC*            17.75%           11.49%           10.33%           12.86%           N/A   

I Shares

                19.73%           12.54%           11.37%           13.87%           N/A   
Russell Midcap® Value Index        21.49%           14.96%           8.53%           12.57%           10.20% ** 
                                                                 
Prospectus Expense Ratio1                                                   Gross  
A Shares                                                             1.45%   
C Shares                                                             1.80%   
I Shares                                                             1.07%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

** The performance return for the Russell Midcap® Value Index is for the period from 10/27/03 to 3/31/13.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

 

14


SELECT LARGE CAP GROWTH STOCK FUND

 

 

Portfolio Managers

 

Ÿ   Christopher Guinther
Ÿ   Joe Ransom, CFA
Ÿ   Michael A. Sansoterra
Ÿ   Sandeep Bhatia, PhD, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Small- and Mid-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

Large cap stock can perform differently from other segments of the equity market or the equity market as a whole. Large capitalization companies may be less flexible in evolving markets or unable to implement change as quickly as smaller capitalization companies.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013 the RidgeWorth Select Large Cap Growth Stock Fund I Shares returned 0.37% while the Russell 1000® Growth Index (“benchmark”) returned 10.09%. The Fund underperformed the benchmark for the fiscal year as the defensive sectors of the benchmark performed well. Three of the Fund’s economic sectors lagged the returns for their comparable sectors within the Russell 1000 Growth Index – Health Care, Consumer Staples and Consumer Discretionary.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The S&P 500 Index reached an all-time new high on the final trading day of March, while the Russell 1000® Growth Index broke out to the upside earlier during the fiscal year. Better than expected economic news coupled with reasonable valuations, steady job growth, rising home prices, monetary stimulus and improving global economic momentum propelled the market to a new high. While the new record for the market is good news, the power behind the move came mostly from the defensive sectors of the market – Health Care, Utilities and Consumer Staples. The pro-cyclical sectors dramatically lagged the broader market giving further evidence that investors are still nervous and climbing “the wall of worry”.

Problematic stock selection within the Consumer area of the market hampered short term results. Monster Beverage Corp., a Consumer Staples company selling energy drinks, declined in a rising market due to the product’s safety concerns and worries over slowing growth. Investors have been punishing the stock since the company reported disappointing earnings in November 2012. Mead Johnson Nutrition LLC, another Consumer Staples holding, also declined after Chinese authorities questioned product safety relating to tainted baby formula. The claim was without merit. Within the Consumer Discretionary sector, Coach Inc., a designer, marketer and distributor of handbags and accessories has been losing market share to a new competitor. Investors punished the stock fearing that the future growth will be less than expected. BorgWarner Inc. and Priceline.com Inc., Consumer Discretionary holdings, also declined over the previous 12 months. Several of the Fund’s Health Care holdings also lost value. Intuitive Surgical Inc., a robotic surgical systems company, declined by more than 10% as the company made cautionary remarks about the European Union’s macroeconomic weakness negatively impacting European procedure growth. Agilent Technologies Inc. and Alexion Pharmaceuticals Inc. also negatively impacted relative performance.

How do you plan to position the Fund, based on market conditions?

The portfolio management team does not attempt to position the Fund based on predictions of macroeconomic conditions. The strategy utilizes a balanced approach to stock selection. This balanced approach, combined with multi-dimensional risk decomposition tools allows the portfolio managers to control active risk through portfolio construction. The portfolio managers actively monitor the components of the systematic risk and aim to ensure that most of the risk relative to the index is derived from non-systematic (stock specific) risk. Sector rotation and tactical sector allocations are generally not utilized. The portfolio will be relatively sector and characteristic neutral to the index as the investment team attempts to generate alpha through superior, bottom-up stock selection. The team believes that its investment strategy is objective, balanced and designed to enable outperformance in most market cycles.

 

15


SELECT LARGE CAP GROWTH STOCK FUND

 

 

The Fund will invest in companies with reasonable valuations and improving fundamentals. Generally, the companies invested in will have shown year-over- year increases in operating margins, growth in revenues and exhibit improving financial returns as measured by return on incremental invested capital. By combining the income statement, balance sheet and cash flow metrics to evaluate earnings quality, capital efficiency and relative valuations, the portfolio managers avoid concentrating on a single attribute. Therefore, the team seeks to eliminate investment results that are directly attributed to market conditions and add alpha through stock selection.

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 1000® Growth Index, which measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® companies with higher price-to-book ratios and higher forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/13  
Select Large Cap Growth Stock Fund         1 Year      3 Year        5 Year        10 Year  

A Shares*

   without sales charge     0.13%        7.70%           4.14%           6.15%   
     with sales charge**   –5.63%        5.59%           2.92%           5.53%   

C Shares

   without CDSC   –0.58%        6.96%           3.41%           5.39%   
     with CDSC**   –1.33%        6.96%           3.41%           5.39%   

I Shares

         0.37%        8.01%           4.43%           6.45%   
Russell 1000® Growth Index        10.09%        13.06%           7.30%           8.62%   
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.23%   
C Shares                                       1.91%   
I Shares                                       0.96%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Shares were offered beginning on 10/14/03. The performance shown prior to such date is based on the performance of the I Shares of the Fund, and has not been adjusted to reflect A Share expenses. If it had been, performance would have been lower.

 

** Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

16


SMALL CAP GROWTH STOCK FUND

 

 

Portfolio Managers

 

Ÿ   Christopher Guinther
Ÿ   Joe Ransom, CFA
Ÿ   Michael A. Sansoterra
Ÿ   Sandeep Bhatia, PhD, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Small capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013 the RidgeWorth Small Cap Growth Stock Fund I Shares returned 14.20% while the Russell 2000® Growth Index (“benchmark”) returned 14.52%. The Fund slightly underperformed the benchmark by 0.32%. The Fund had particularly good stock selection in Health Care, Technology and the Telecommunication sectors relative the Russell 2000® Growth Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The S&P 500 Index reached an all-time new high on the final trading day of March. Better than expected economic news coupled with reasonable valuations, steady job growth, rising home prices, monetary stimulus and improving global economic momentum propelled the market to a new high. While the new record for the broader market is good news, the power behind the move came in the final quarter and mostly from the defensive sectors of the market—Health Care, Utilities and Staples. The pro-cyclical sectors dramatically lagged giving further evidence that investors are still nervous as the market climbs “the wall of worry”. Additionally, small cap growth stocks continue to rally strongly from their 2008 lows exceeding the broader market as measured by the S&P 500 Index.

Fund investments within cloud based services and high speed internet access companies lead to a positive 55% return within the Telecommunication Services sector, beating the benchmark sector by 44%. In addition, the Fund’s Health Care stocks averaged more than 26% return during the year while the average Health Care stock within the Russell 2000® Growth Index was up nearly 17%. Stock selection was especially strong within the Health Care sector; 16 stocks rose more than 25% during the year. For example, Onyx Pharmaceuticals Inc., a biotechnology company, rose 94% during the year after a Food and Drug Administration panel voted to approve a cancer drug for multiple myeloma. Positions within the medical device and pharmaceutical industries also reported strong operating results which lead to market value appreciation. The Fund also benefited from several Technology holdings which were acquired at very large premiums. For example, the acquisition of Ariba Inc., a cloud based technology company rose more than 35% on the offer.

How do you plan to position the Fund, based on market conditions?

The portfolio management team does not attempt to position the Fund based on predictions of macroeconomic conditions. The strategy utilizes a balanced approach to stock selection. This balanced approach, combined with multi-dimensional risk decomposition tools allows the portfolio managers to control active risk through portfolio construction. The portfolio managers actively monitor the components of the systematic risk and aim to ensure that most of the risk relative to the index is derived from non-systematic (stock specific) risk. Sector rotation and tactical sector allocations are deemphasized. The portfolio will be relatively sector and characteristic neutral relative to the Russell 2000 Growth index as the investment team attempts to generate alpha through bottom-up stock selection. The team believes that its investment strategy is objective, balanced and designed to enable outperformance in most market cycles.

The Fund will invest in companies with reasonable valuations and improving fundamentals. Generally, the companies invested in will have shown year-over- year increases in operating margins, growth in revenues and exhibit improving financial returns as measured by return on incremental invested capital. By combining the income statement, balance sheet and cash flow metrics to evaluate earnings quality, capital efficiency and relative valuations, the portfolio managers avoid concentrating on a single attribute. Therefore, the team seeks to eliminate investment results that are directly attributed to market conditions and add alpha through stock selection.

 

17


SMALL CAP GROWTH STOCK FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 2000® Growth Index, which measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000® companies with higher price-to-book ratios and higher forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/13  
Small Cap Growth Stock Fund         1 Year      3 Year        5 Year        10 Year  

A Shares

   without sales charge   14.07%        13.60%           7.46%           10.55%   
     with sales charge*   7.49%        11.37%           6.19%           9.90%   

C Shares

   without CDSC   13.30%        12.80%           6.73%           9.81%   
     with CDSC*   12.45%        12.80%           6.73%           9.81%   

I Shares

       14.20%        13.85%           7.75%           10.89%   
Russell 2000® Growth Index        14.52%        14.75%           9.04%           11.61%   
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.29%   
C Shares                                       1.94%   
I Shares                                       1.16%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

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18


SMALL CAP VALUE EQUITY FUND

 

 

Portfolio Manager

 

Ÿ   Brett Barner, CFA

 

 

INVESTMENT CONCERNS

 

Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Small capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure.

Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the RidgeWorth Small Cap Value Equity Fund I Shares returned 17.07% versus 18.09% for the benchmark, the Russell 2000® Value Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The primary reason for underperformance relative to the index was stock selection in the Materials, Financials and Consumer Discretionary sectors. In Materials, Cabot Corp. underperformed due to weak demand and modest pricing erosion in their business that serves the tires end market, as well as, lower accretion estimates for their recent acquisition. In Financials, Hancock Holding Co. detracted from performance on muted investor enthusiasm after management guided to higher than expected non-interest expenses. In Consumer Discretionary, Guess? Inc. negatively contributed as investor sentiment worsened due to challenges at its North American and European Union businesses.

Positive contributors to performance were stock selection in the Industrials, Information Technology and Health Care sectors. In Industrials, A.O. Smith Corp. outperformed owing to strong residential construction data in the U.S. and high single digit growth in Chinese water heater demand. In Information Technology, Booz Allen Hamilton Holding Corp. outperformed on the announcement of several large one time dividends in the second half of 2012. In Health Care, Teleflex Inc. contributed to performance when new management continued to execute on their plan of increasing pricing and expanding margins.

How do you plan to position the Fund, based on market conditions?

We believe that rising home prices, strong corporate balance sheets, accommodative fiscal and monetary policies, and stabilizing global economic momentum will continue to drive equity markets. We take into account a number of near term risks which include the perennial Eurozone crisis, rising geopolitical risks, specifically Iran and North Korea, the impact of a stronger dollar on corporate profits and the potential impact inflation may have if/when China’s economic growth accelerates. Defensive sectors have outperformed recently, primarily in the Health Care and Utilities sectors, but we believe mid to late stage cyclical stocks will drive near-term performance and our Fund is positioned accordingly. As a result, our Fund is overweight Industrials and underweight the Financials and Utilities sectors.

The Fund utilizes a bottom-up approach to stock selection. The process seeks dividend-paying stocks trading at the lower end of historical trading ranges which display characteristics of financial strength and possess an identifiable catalyst to assist in realizing true value. The Fund does not make active sector allocations but allows the process to define sector weights.

 

19


SMALL CAP VALUE EQUITY FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Russell 2000® Value Index, which measures the performance of the small-cap value segment of the U.S. equity universe. It includes those Russell 2000® companies with lower price-to-book ratios and lower forecasted growth values. The Index is unmanaged and does not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/13  
Small Cap Value Equity Fund         1 Year      3 Year        5 Year        10 Year  

A Shares*

   without sales charge   16.77%        13.56%           9.99%           13.55%   
     with sales charge**   10.05%        11.33%           8.70%           12.88%   

C Shares

   without CDSC   16.17%        12.83%           9.31%           13.11%   
     with CDSC**   15.17%        12.83%           9.31%           13.11%   

I Shares

       17.07%        13.87%           10.31%           13.88%   
Russell 2000® Value Index        18.09%        12.12%           7.29%           11.29%   
                                           
Prospectus Expense Ratio1                                     Gross  
A Shares                                       1.53%   
C Shares                                       1.91%   
I Shares                                       1.20%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Shares were offered beginning 10/9/03. The performance shown prior to such date is based on the performance of the I Shares of the Fund, and has not been adjusted to reflect A Share expenses. If it had been, performance would have been lower.

 

** Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

 

20


AGGRESSIVE GROWTH ALLOCATION STRATEGY

 

 

Portfolio Manager

 

Ÿ   Alan Gayle

 

 

INVESTMENT CONCERNS

 

Stocks are more volatile and carry more risk and return potential than other forms of investments. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Cash equivalents offer low risk and low return potential.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The RidgeWorth Aggressive Growth Allocation Strategy I Shares returned 6.45% for the fiscal year ended March 31, 2013, behind the 11.97% return for the hybrid benchmark (80% S&P 500 Index / 20% Barclays Capital U.S. Aggregate Bond Index) and behind the Lipper Mixed-Asset Target Allocation–Growth Classification Index return of 9.96% in the same period, placing it in the 96th percentile.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The RidgeWorth Aggressive Growth Allocation Strategy I Shares relative performance benefitted modestly against its benchmark due to its overweight to equities versus its target weighting of 80%, as equities broadly outperformed fixed income mandates in the quarter. It also benefitted from outperformance by several selected RidgeWorth funds, notably large cap and mid cap value funds. Similar to the broader S&P 500 Index, in which Value style mandates outperformed Growth style mandates, the Fund’s exposure to growth securities was a detractor, as were exposures to alternative securities in gold miners and to international markets, which collectively lagged in the quarter. All in, several underlying equity funds lagged the S&P 500 Index, which led to an aggregate lagging performance in the equity space. In the fixed income space, the Fund’s exposure to longer duration, corporate fixed income oriented securities, as well as to the high yield funds, was additive to relative fixed income performance. However, the shorter-duration fixed-income and cash positions lagged the benchmark. Despite some positive relative returns in both the equity and fixed income spaces, the strategy experienced subpar relative total returns versus its hybrid benchmark and its Lipper category.

How do you plan to position the Fund, based on market conditions?

Although the economy is experiencing a quite sluggish 2% to 2.5% growth rate, the broad S&P 500 Index still trades slightly below its 10 and 15 year medians on key valuation metrics. Moreover, given the “Global Fed’s” (Federal Reserve, Bank of China, Bank of Japan, European Central Bank, et al) stimulus, there appears to be increased confidence that the current expansion is relatively sustainable with limited downside risks.

As long as ample accommodation continues, and inflation stays at the low end of the Fed comfort zone, equities have at least a modicum of tailwinds. Equity index valuations were more compelling last year, but vigorous fundamental stock picking and sector rotations should return into vogue.

As a consequence, we believe that when headwinds dissipate and 2013 metrics are recalibrated, the equity market indeed has the potential for further improvement; however, we would not be surprised to see at least a small amount of consolidation in the short run, or at least until economic traction becomes more visible.

 

21


AGGRESSIVE GROWTH ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

Effective September 30, 2012, the benchmark index for the Fund changed from the Standard & Poors 500 Index (“S&P 500 Index”) to the Hybrid 80/20 Blend Index. The Fund’s performance is compared to the Hybrid 80/20 Blend Index.

 

The S&P 500 Index is widely regarded as a gauge of the U.S. equities market. This index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The Barclays Capital U.S. Aggregate Bond Index is a measure of the overall performance of the U.S. bond market. These indices are unmanaged and do not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

            Average Annual Total Returns as of 3/31/13  
Aggressive Growth Allocation Strategy    1 Year      3 Year        5 Year        10 Year  

A Shares*

   without sales charge    6.30%        7.53%           3.49%           7.54%   
     with sales charge**    0.24%        5.43%           2.27%           6.91%   

C Shares*

   without CDSC    5.47%        6.79%           2.77%           7.00%   
     with CDSC**    4.47%        6.79%           2.77%           7.00%   

I Shares

        6.45%        7.83%           3.80%           7.85%   
Hybrid 80/20 Blend Index (80% of the S&P 500 Index, 20% of the Barclays Capital U.S. Aggregate Bond Index)    11.97%        11.44%           6.05%           8.02%   
S&P 500 Index         13.96%        12.67%           5.81%           8.53%   
Barclays Capital U.S. Aggregate Bond Index    3.77%        5.52%           5.47%           5.02%   
                                            
Prospectus Expense Ratio1                                Gross  
A Shares                                        1.69%   
C Shares                                        2.34%   
I Shares                                        1.69%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2013 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.70%, 1.30% and 0.50% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.89% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Shares and C Shares were offered beginning on 10/16/03 and 4/1/05, respectively. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect A Share or C Share expenses. If it had been, performance would have been lower.
** Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

22


CONSERVATIVE ALLOCATION STRATEGY

 

 

Portfolio Manager

 

Ÿ   Alan Gayle

 

 

INVESTMENT CONCERNS

 

Stocks are more volatile and carry more risk and return potential than other forms of investments. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Cash equivalents offer low risk and low return potential.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The RidgeWorth Conservative Allocation Strategy I Shares returned 5.55% for the fiscal year ended March 31, 2013, behind the 6.88% return for the hybrid benchmark (30% S&P 500 / 70% Barclays Capital U.S. Aggregate Bond Index) and behind the Lipper Mixed-Asset Target Allocation–Conservative Classification return of 7.34% in the same period, placing it in the 84th percentile.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The RidgeWorth Conservative Allocation Strategy I Shares relative performance benefitted modestly against its benchmark due to its overweight to equities versus its target weighting of 30%, as equities broadly outperformed fixed income mandates for the year. It also benefitted from outperformance by several selected RidgeWorth funds, notably large cap and mid cap value funds. Similar to the broader S&P 500 Index, in which Value style mandates outperformed Growth style mandates, the Fund’s exposure to growth securities was a detractor, as were exposures to alternative securities in gold miners and to international markets, which collectively lagged in the quarter. All in, several underlying equity funds lagged the S&P 500 Index, which led to an aggregate lagging performance in the equity space. In the fixed income space the Fund’s exposure to longer duration, corporate fixed income oriented securities, as well as to the high yield funds, was additive to relative fixed-income performance. However, the shorter-duration fixed-income and cash positions lagged the benchmark. Despite some positive relative returns in both the equity and fixed income spaces, the strategy experienced subpar relative total returns versus its hybrid benchmark and its Lipper category.

How do you plan to position the Fund, based on market conditions?

Although the economy is experiencing a quite sluggish 2% to 2.5% growth rate, the broad S&P 500 Index still trades slightly below its 10 and 15 year medians on key valuation metrics. Moreover, given the “Global Fed’s” (Federal Reserve, Bank of China, Bank of Japan, European Central Bank, et al) stimulus, there appears to be increased confidence that the current expansion is relatively sustainable with limited downside risks.

As long as ample accommodation continues, and inflation stays at the low-end of the Fed comfort zone, equities have at least a modicum of tailwinds. Equity index valuations were more compelling last year, but vigorous fundamental stock picking and sector rotations should return to vogue.

As a consequence, we believe that when headwinds dissipate and 2013 metrics are recalibrated, the equity market indeed has the potential for further improvement; however, we would not be surprised to see at least a small amount of consolidation in the short run, or at least until economic traction becomes more visible.

 

23


CONSERVATIVE ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Hybrid 30/70 Blend Index. The Standard & Poors 500 Index (“S&P 500 Index”) is widely regarded as a gauge of the U.S. equities market. This index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The Barclays Capital U.S. Aggregate Bond Index is a measure of the overall performance of the U.S. bond market. These indices are unmanaged and do not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

            Average Annual Total Returns as of 3/31/13  
Conservative Allocation Strategy          1 Year      3 Year        5 Year        10 Year  

A Shares*

   without sales charge      5.29%        6.44%           6.29%           6.09%   
     with sales charge**      0.30%        4.73%           5.27%           5.57%   

C Shares*

   without CDSC      4.58%        5.73%           5.55%           5.57%   
     with CDSC**      3.58%        5.73%           5.55%           5.57%   

I Shares*

          5.55%        6.76%           6.61%           6.39%   
Hybrid 30/70 Blend Index (30% of the S&P 500 Index, 70% of the Barclays Capital U.S. Aggregate Bond Index)      6.88%        7.91%           5.97%           6.32%   
S&P 500 Index    13.96%        12.67%           5.81%           8.53%   
Barclays Capital U.S. Aggregate Bond Index      3.77%        5.52%           5.47%           5.02%   
                                            
Prospectus Expense Ratio1                                      Gross  
A Shares                                        1.37%   
C Shares                                        1.99%   
I Shares                                        1.04%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2013 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.60%, 1.30% and 0.30% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.59% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Shares, C Shares and I Shares were offered beginning on 11/11/03, 4/1/05, and 11/6/03, respectively. The performance shown prior to such dates is based on performance of the B Shares of the Fund, and has not been adjusted to reflect A Share, C Share or I Share expenses. If it had been, performance for C Shares would have been lower. Effective close of business on 7/16/10, B Shares converted into A Shares.
** Class A Share performance reflects the maximum front-end sales charge of 4.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

24


GROWTH ALLOCATION STRATEGY

 

 

Portfolio Manager

 

Ÿ   Alan Gayle

 

 

INVESTMENT CONCERNS

 

Stocks are more volatile and carry more risk and return potential than other forms of investments. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Cash equivalents offer low risk and low return potential.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The RidgeWorth Growth Allocation Strategy I Shares returned 7.52% for the fiscal year ended March 31, 2013, behind the 10.96% return for the hybrid benchmark (70% S&P 500 Index / 30% Barclays Capital U.S. Aggregate Bond Index) and behind the Lipper Mixed-Asset Target Allocation–Growth Classification return of 9.96% in the same period, placing it in the 87th percentile.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The RidgeWorth Growth Allocation Strategy I Shares relative performance benefitted modestly against its benchmark due to its overweight to equities versus its target weighting of 70%, as equities broadly outperformed fixed income mandates for the year. It also benefitted from outperformance by several selected RidgeWorth funds, notably large cap and mid cap value funds. Similar to the broader S&P 500 Index, in which Value style mandates outperformed Growth style mandates, the Fund’s exposure to growth securities was a detractor, as were exposures to alternative securities in gold miners and to international markets, which collectively lagged in the quarter. All in, several underlying equity funds lagged the S&P 500 Index, which led to an aggregate lagging performance in the equity space. In the fixed income space the Fund’s exposure to longer duration, corporate fixed income oriented securities, as well as to the high yield funds, was additive to relative fixed-income performance. However, the shorter-duration fixed-income and cash positions lagged the benchmark. Despite some positive relative returns in both the equity and fixed income spaces, the strategy experienced subpar relative total returns versus its hybrid benchmark and its Lipper category.

How do you plan to position the Fund, based on market conditions?

Although the economy is experiencing a quite sluggish 2% to 2.5% growth rate, the broad S&P 500 Index still trades slightly below its 10 and 15 year medians on key valuation metrics. Moreover, given the “Global Fed’s” (Federal Reserve, Bank of China, Bank of Japan, European Central Bank, et al) stimulus, there appears to be increased confidence that the current expansion is relatively sustainable with limited downside risks.

As long as ample accommodation continues, and inflation stays at the low-end of the Fed comfort zone, equities have at least a modicum of tailwinds. Equity index valuations were more compelling last year, but vigorous fundamental stock picking and sector rotations should return to vogue.

As a consequence, we believe that when headwinds dissipate and 2013 metrics are recalibrated, the equity market indeed has the potential for further improvement; however, we would not be surprised to see at least a small amount of consolidation in the short run, or at least until economic traction becomes more visible.

 

25


GROWTH ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Hybrid 70/30 Blend Index. The Standard & Poors 500 Index (“S&P 500 Index”) is widely regarded as a gauge of the U.S. equities market. This index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The Barclays Capital U.S. Aggregate Bond Index is a measure of the overall performance of the U.S. bond market. These indices are unmanaged and do not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

            Average Annual Total Returns as of 3/31/13  
Growth Allocation Strategy          1 Year        3 Year        5 Year        10 Year  

A Shares*

   without sales charge      7.16%           7.67%           5.11%           7.73%   
     with sales charge**      0.98%           5.56%           3.87%           7.10%   

C Shares*

   without CDSC      6.55%           6.94%           4.36%           7.13%   
     with CDSC**      5.55%           6.94%           4.36%           7.13%   

I Shares

          7.52%           7.97%           5.42%           8.04%   
Hybrid 70/30 Blend Index (70% of the S&P 500 Index, 30% of the Barclays Capital U.S. Aggregate Bond Index)      10.96%           10.78%           6.11%           7.73%   
S&P 500 Index           13.96%           12.67%           5.81%           8.53%   
Barclays Capital U.S. Aggregate Bond Index      3.77%           5.52%           5.47%           5.02%   
                                                
Prospectus Expense Ratio1                                        Gross  
A Shares                                            1.40%   
C Shares                                            2.03%   
I Shares                                            1.41%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2013 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.70%, 1.30% and 0.50% for the A, C and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.77% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Shares and C Shares were offered beginning on 11/05/03 and 4/05/05, respectively. The performance shown prior to such dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect A Share and C Share expenses. If it had been, performance would have been lower.
** Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

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26


MODERATE ALLOCATION STRATEGY

 

 

Portfolio Manager

 

Ÿ   Alan Gayle

 

 

INVESTMENT CONCERNS

 

Stocks are more volatile and carry more risk and return potential than other forms of investments. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Cash equivalent offer low risk and low return potential.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The RidgeWorth Moderate Allocation Strategy I Shares returned 6.60% for the fiscal year ended March 31, 2013, behind the 8.93% return for the hybrid benchmark (50% S&P 500 / 50% Barclays Capital U.S. Aggregate Bond Index) and behind the Lipper Mixed-Asset Target Allocation–Moderate Classification return of 9.11% in the same period, placing it in the 88th percentile.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The RidgeWorth Moderate Allocation Strategy I Shares’ relative performance benefitted modestly against its benchmark due to its overweight to equities versus its target weighting of 50%, as equities broadly outperformed fixed income mandates for the year. It also benefitted from outperformance by several selected RidgeWorth funds, notably large cap and mid cap value funds. Similar to the broader S&P 500 Index, in which Value style mandates outperformed Growth style mandates, the Fund’s exposure to growth securities was a detractor, as were exposures to alternative securities in gold miners and to international markets, which collectively lagged in the quarter. All in, several underlying equity funds lagged the S&P 500 Index, which led to an aggregate lagging performance in the equity space. In the fixed income space the Fund’s exposure to longer duration, corporate fixed income oriented securities, as well as to the high yield funds, was additive to relative fixed-income performance. However, the shorter-duration fixed-income and cash positions lagged the benchmark. Despite some positive relative returns in both the equity and fixed income spaces, the strategy experienced subpar relative total returns versus its hybrid benchmark and its Lipper category.

How do you plan to position the Fund, based on market conditions?

Although the economy is experiencing a quite sluggish 2% to 2.5% growth rate, the broad S&P 500 Index still trades slightly below its 10 and 15 year medians on key valuation metrics. Moreover, given the “Global Fed’s” (Federal Reserve, Bank of China, Bank of Japan, European Central Bank, et al) stimulus, there appears to be increased confidence that the current expansion is relatively sustainable with limited downside risks.

As long as ample accommodation continues, and inflation stays at the low-end of the Fed comfort zone, equities have at least a modicum of tailwinds. Equity index valuations were more compelling last year, but vigorous fundamental stock picking and sector rotations should return into vogue.

As a consequence, we believe that when headwinds dissipate and 2013 metrics are recalibrated, the equity market indeed has the potential for further improvement; however, we would not be surprised to see at least a small amount of consolidation in the short run, or at least until economic traction becomes more visible.

 

27


MODERATE ALLOCATION STRATEGY

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

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This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Hybrid 50/50 Blend Index. The Standard & Poors 500 Index (“S&P 500 Index”) is widely regarded as a guage of the U.S. equities market. This index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The Barclays Capital U.S. Aggregate Bond Index is a measure of the overall performance of the U.S. bond market. These indices are unmanaged and do not reflect the deduction of fees, such as investment and fund accounting fees, associated with a mutual fund. Investors cannot invest directly in an index.

 

              Average Annual Total Returns as of 3/31/13  
Moderate Allocation Strategy      1 Year      3 Year        5 Year        10 Year  

A Shares*

   without sales charge      6.36%        7.23%           5.57%           7.30%   
     with sales charge**      0.21%        5.13%           4.33%           6.67%   

C Shares*

   without CDSC      5.69%        6.49%           4.82%           6.71%   
     with CDSC**      4.69%        6.49%           4.82%           6.71%   

I Shares

          6.60%        7.52%           5.87%           7.59%   
Hybrid 50/50 Blend Index (50% of the Barclays Capital U.S. Aggregate Bond Index, 50% of the S&P 500 Index )      8.93%        9.39%           6.12%           7.08%   
S&P 500 Index           13.96%        12.67%           5.81%           8.53%   
Barclays Capital U.S. Aggregate Bond Index      3.77%        5.52%           5.47%           5.02%   
                                              
Prospectus Expense Ratio1                                  Gross  
A Shares                                          1.30%   
C Shares                                          1.90%   
I Shares                                          1.24%   

Because equity markets may be volatile in the short-term, resulting in unusually high or low performance, investors should evaluate long-term performance before making an investment.

The Adviser has contractually agreed to waive fees and reimburse expenses until at least August 1, 2013 in order to keep total operating expenses (excluding underlying fund fees and expenses) from exceeding 0.70%, 1.30% and 0.50% for A, C and I Shares, respectively. Without these fee waivers, performance would have been lower. The indirect expenses of the Fund, which represent a pro-rata share of the expenses of the underlying funds in which the Fund invests, totaled 0.68% of net assets and are included in the expense ratios listed in the table above.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Shares and C Shares were offered beginning on 10/10/03 and 4/5/05, respectively. The performance shown prior to such
  dates is based on performance of the I Shares of the Fund, and has not been adjusted to reflect A Share and C Share expenses. If it had been, performance would have been lower.

 

** Class A Share performance reflects the maximum front-end sales charge of 5.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Sector Weightings (as of March 31, 2013)

as a percentage of investments

 

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28


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Aggressive Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 98.8%     

Consumer Discretionary 29.9%

    

Amazon.com, Inc.*

    3,700         986,013   

Chipotle Mexican Grill, Inc.*

    1,800         586,566   

Deckers Outdoor Corp.*

    6,600         367,554   

HomeAway, Inc.*

    5,900         191,750   

Lululemon Athletica, Inc.*

    10,000         623,500   

Michael Kors Holdings Ltd.*

    5,500         312,345   

Netflix, Inc.*

    3,900         738,699   

Nordstrom, Inc.

    5,900         325,857   

Priceline.com, Inc.*

    1,100         756,723   

Tesla Motors, Inc.*

    18,700         708,543   

Vera Bradley, Inc.*

    9,000         212,670   
    

 

 

 
       5,810,220   
    

 

 

 

Energy 7.2%

    

Atwood Oceanics, Inc.*

    300         15,762   

Dresser-Rand Group, Inc.*

    5,550         342,213   

Energy XXI Bermuda Ltd.

    4,800         130,656   

FMC Technologies, Inc.*

    7,900         429,681   

Pioneer Natural Resources Co.

    3,900         484,575   
    

 

 

 
       1,402,887   
    

 

 

 

Financials 5.2%

    

BlackRock, Inc.

    400         102,752   

Financial Engines, Inc.

    8,900         322,358   

Portfolio Recovery Associates, Inc.*

    4,600         583,832   
    

 

 

 
       1,008,942   
    

 

 

 

Health Care 15.4%

    

Catamaran Corp.*

    16,000         848,480   

Celgene Corp.*

    3,600         417,276   

HMS Holdings Corp.*

    14,100         382,815   

Intuitive Surgical, Inc.*

    1,050         515,750   

IPC The Hospitalist Co.*

    3,000         133,440   

Medidata Solutions, Inc.*

    1,800         104,364   

Salix Pharmaceuticals Ltd.*

    6,600         337,788   

Vertex Pharmaceuticals, Inc.*

    4,500         247,410   
    

 

 

 
       2,987,323   
    

 

 

 

Industrials 8.0%

    

BE Aerospace, Inc.*

    6,800         409,972   

Chart Industries, Inc.*

    500         40,005   

PACCAR, Inc.

    6,400         323,584   

Precision Castparts Corp.

    4,100         777,442   
    

 

 

 
       1,551,003   
    

 

 

 
     Shares      Value($)  

Information Technology 33.1%

    

Alliance Data Systems Corp.*

    1,900         307,591   

Apple, Inc.

    680         300,988   

Cognizant Technology Solutions Corp., Cl A*

    7,900         605,219   

F5 Networks, Inc.*

    6,200         552,296   

Facebook, Inc., Cl A*

    28,000         716,240   

Fusion-io, Inc.*

    6,800         111,316   

Google, Inc., Cl A*

    1,000         794,030   

LinkedIn Corp., Cl A*

    4,500         792,270   

MercadoLibre, Inc.

    8,000         772,480   

Mitek Systems, Inc.*

    44,700         209,196   

QUALCOMM, Inc.

    9,000         602,550   

Skyworks Solutions, Inc.*

    2,200         48,466   

Splunk, Inc.*

    2,200         88,066   

Zillow, Inc.*

    9,600         524,832   
    

 

 

 
       6,425,540   
    

 

 

 

Total Common Stocks
(Cost $8,696,399)

       19,185,915   
    

 

 

 

Money Market Fund 1.5%

    

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(a)

    293,510         293,510   
    

 

 

 

Total Money Market Fund
(Cost $293,510)

       293,510   
    

 

 

 

Total Investments
(Cost $8,989,909) — 100.3%

       19,479,425   

Liabilities in excess of other assets — (0.3)%

       (59,634
    

 

 

 

Net Assets — 100.0%

     $ 19,419,791   
    

 

 

 

 

* Non-income producing security.

 

(a) Rate disclosed, the 7 day net yield, is as of March 31, 2013.
 

 

See Notes to Financial Statements.

 

29


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Fund

 

     Shares      Value($)  
Common Stocks 96.0%     

Australia 1.2%

    

Australia & New Zealand Banking Group Ltd.

    109,424         3,250,333   
    

 

 

 

Austria 3.2%

    

OMV AG

    97,879         4,162,344   

Raiffeisen Bank International AG(a)

    91,979         3,126,207   

Voestalpine AG

    55,368         1,700,171   
    

 

 

 
       8,988,722   
    

 

 

 

Belgium 3.1%

    

Ageas

    97,635         3,302,175   

Anheuser-Busch InBev NV

    53,812         5,328,624   
    

 

 

 
       8,630,799   
    

 

 

 

Canada 0.2%

    

Potash Corp. of Saskatchewan, Inc.

    15,988         627,529   
    

 

 

 

France 13.4%

    

AXA SA

    251,059         4,315,609   

BNP Paribas

    107,939         5,540,002   

Cap Gemini SA

    48,260         2,196,105   

Compagnie Generale des Etablissements Michelin

    17,800         1,488,806   

Publicis Groupe SA

    63,602         4,264,744   

Renault SA

    53,345         3,342,089   

Sanofi-Aventis

    28,261         2,871,665   

Total SA

    118,862         5,691,533   

Valeo SA

    41,527         2,247,164   

Vinci SA

    58,147         2,619,560   

Vivendi SA

    125,954         2,601,835   
    

 

 

 
       37,179,112   
    

 

 

 

Germany 13.1%

    

Adidas AG

    32,940         3,417,624   

BASF SE

    53,893         4,719,736   

Continental AG

    16,641         1,989,568   

Deutsche Lufthansa AG

    157,814         3,081,949   

Deutsche Post AG

    182,638         4,208,211   

Fresenius SE

    22,949         2,832,582   

Hannover Rueckversicherung AG

    34,998         2,745,119   

Infineon Technologies AG

    190,454         1,503,863   

Muenchener Rueckversicherungs AG

    20,316         3,799,540   

SAP AG

    43,349         3,472,934   

Siemens AG

    43,469         4,682,216   
    

 

 

 
       36,453,342   
    

 

 

 

Hong Kong 1.8%

    

Digital China Holdings Ltd.

    3,632,000         4,903,461   
    

 

 

 

Hungary 0.8%

    

OTP Bank PLC

    124,832         2,252,708   
    

 

 

 
     Shares      Value($)  

India 0.3%

    

Grasim Industries Ltd.

    15,097         780,266   
    

 

 

 

Indonesia 1.9%

    

Bank Mandiri Persero Tbk PT

    2,625,500         2,701,826   

Bank Rakyat Indonesia Persero Tbk PT

    2,919,000         2,628,377   
    

 

 

 
       5,330,203   
    

 

 

 

Italy 0.9%

    

Intesa Sanpaolo SpA

    468,429         685,721   

Saipem SpA

    60,861         1,871,573   
    

 

 

 
       2,557,294   
    

 

 

 

Japan 19.0%

    

Astellas Pharma, Inc.

    42,400         2,279,110   

Daicel Corp.

    351,000         2,733,128   

Honda Motor Co. Ltd.

    94,088         3,598,203   

ITOCHU Corp.

    628,580         7,672,369   

JX Holdings, Inc.

    352,400         1,972,856   

LINTEC Corp.

    58,000         1,102,884   

Marubeni Corp.

    484,000         3,681,351   

Miraca Holdings, Inc.

    23,000         1,101,928   

Mitsubishi UFJ Financial Group, Inc.

    793,202         4,752,387   

Mitsui & Co. Ltd.

    76,500         1,071,089   

Nidec Corp.(a)

    34,000         2,029,851   

Nippon Telegraph & Telephone Corp.

    12,216         532,061   

Sekisui Chemical Co. Ltd.

    229,000         2,520,253   

Sumitomo Corp.

    465,244         5,846,748   

Sumitomo Mitsui Financial Group, Inc.

    112,205         4,577,120   

Toyota Motor Corp.

    97,400         4,992,352   

Unipres Corp.

    100,000         2,239,337   
    

 

 

 
       52,703,027   
    

 

 

 

Netherlands 4.5%

    

ING Groep NV*

    242,027         1,717,813   

Koninklijke Ahold NV

    283,994         4,352,073   

LyondellBasell Industries NV, Cl A

    46,469         2,941,023   

Royal Dutch Shell PLC ADR

    50,961         3,405,214   
    

 

 

 
       12,416,123   
    

 

 

 

Norway 2.3%

    

Telenor ASA

    181,061         3,958,651   

Yara International ASA

    51,959         2,353,867   
    

 

 

 
       6,312,518   
    

 

 

 

Russia 1.2%

    

Sberbank of Russia SP ADR

    254,954         3,268,510   
    

 

 

 

Singapore 0.8%

    

Indofood Agri Resources Ltd.

    2,157,000         2,147,696   
    

 

 

 
 

 

See Notes to Financial Statements.

 

30


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Fund — concluded

 

     Shares      Value($)  

South Korea 3.2%

    

Celltrion, Inc.

    35,621         1,703,251   

Hyundai Motor Co.

    6,787         1,363,378   

Korea Electric Power Corp.*

    177,780         4,865,541   

Silicon Works Co. Ltd.

    40,677         850,028   
    

 

 

 
       8,782,198   
    

 

 

 

Sweden 2.3%

    

Swedbank AB, Cl A

    195,116         4,437,347   

Volvo AB, Cl B

    126,495         1,839,225   
    

 

 

 
       6,276,572   
    

 

 

 

Switzerland 3.3%

    

Roche Holding AG

    15,487         3,605,422   

Transocean Ltd.*

    35,214         1,829,720   

Xstrata PLC

    224,933         3,650,150   
    

 

 

 
       9,085,292   
    

 

 

 

Taiwan 0.2%

    

Advanced Semiconductor Engineering, Inc.

    695,000         562,461   
    

 

 

 

Thailand 1.7%

    

Kasikornbank

    185,900         1,320,376   

Krung Thai Bank (Foreign Registered)

    1,622,700         1,374,183   

Siam Commercial Bank (Foreign Registered)

    324,200         1,965,016   
    

 

 

 
       4,659,575   
    

 

 

 

Turkey 2.1%

    

Koc Holding AS

    107,750         625,311   

Tofas Turk Otomobil Fabrikasi AS

    138,516         999,079   

Turkiye Halk Bankasi AS

    394,252         4,216,424   
    

 

 

 
       5,840,814   
    

 

 

 

United Kingdom 15.5%

    

AstraZeneca PLC

    84,943         4,258,553   

Barclays PLC

    1,262,302         5,584,270   

BP PLC SP ADR

    140,366         5,944,500   

British American Tobacco PLC

    108,097         5,793,025   

BT Group PLC

    1,324,010         5,592,711   

Rio Tinto PLC SP ADR(a)

    104,285         4,909,737   

Royal Dutch Shell PLC, Cl A

    71,034         2,297,885   

SABMiller PLC

    75,851         3,992,322   

Subsea 7 SA

    64,414         1,505,374   

WPP PLC

    202,224         3,223,254   
    

 

 

 
       43,101,631   
    

 

 

 

Total Common Stocks (Cost $224,890,729)

       266,110,186   
    

 

 

 
     Shares      Value($)  
Preferred Stocks 1.5%     

Brazil 0.2%

    

Telefonica Brasil SA, 4.78%

    23,406         624,894   
    

 

 

 

Germany 1.3%

    

Volkswagen AG, 2.02%

    17,926         3,561,661   
    

 

 

 

Total Preferred Stocks (Cost $3,460,175)

       4,186,555   
    

 

 

 

Short-Term Investment 3.7%

    

RidgeWorth Funds Securities Lending Joint Account(b)

    10,253,825         10,253,825   
    

 

 

 

Total Short-Term Investment (Cost $10,253,825)

       10,253,825   
    

 

 

 

Money Market Fund 1.3%

    

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(c)

    3,597,807         3,597,807   
    

 

 

 

Total Money Market Fund (Cost $3,597,807)

       3,597,807   
    

 

 

 

Total Investments (Cost $242,202,536) —102.5%

       284,148,373   

Liabilities in excess of other assets — (2.5)%

       (7,031,019
    

 

 

 

Net Assets — 100.0%

     $ 277,117,354   
    

 

 

 

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $9,880,422.

 

(b) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(h)).

 

(c) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

ADR     American Depositary Receipt
SP ADR     Sponsored American Depositary Receipt
 

 

See Notes to Financial Statements.

 

31


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund

 

     Shares      Value($)  
Common Stocks 95.6%     

Australia 5.8%

    

AGL Energy Ltd.

    5,746         94,882   

ALS Ltd.

    3,744         40,813   

Alumina Ltd.*

    30,564         35,322   

Amcor Ltd.

    15,236         147,208   

AMP Ltd.

    35,260         191,264   

Arrium Ltd.

    16,233         14,704   

Asciano Ltd.

    13,991         81,428   

ASX Ltd.

    2,188         82,442   

Aurizon Holdings Ltd.

    21,032         88,247   

Australia & New Zealand Banking Group Ltd.

    35,567         1,056,483   

Bendigo and Adelaide Bank Ltd.

    4,664         49,870   

BGP Holdings PLC*(a)(b)

    737,041           

BHP Billiton Ltd.

    42,774         1,458,939   

BlueScope Steel Ltd.*

    4,242         22,127   

Boral Ltd.

    8,972         45,865   

Brambles Ltd.

    17,960         158,381   

Caltex Australia Ltd.

    1,708         37,966   

Coca-Cola Amatil Ltd.

    6,991         106,123   

Cochlear Ltd.

    709         50,233   

Commonwealth Bank of Australia

    21,180         1,499,727   

Computershare Ltd.

    5,505         58,462   

Crown Ltd.

    5,589         71,574   

CSL Ltd.

    6,857         422,853   

Dexus Property Group REIT

    60,661         65,683   

Echo Entertainment Group Ltd.

    6,599         23,910   

Fairfax Media Ltd.(c)

    27,857         18,272   

Fortescue Metals Group Ltd.(c)

    15,524         63,681   

Goodman Group

    14,144         70,390   

GPT Group REIT

    19,408         74,967   

Harvey Norman Holdings Ltd.(c)

    6,595         18,745   

Iluka Resources Ltd.

    5,073         49,384   

Incitec Pivot Ltd.

    19,864         63,906   

Insurance Australia Group Ltd.

    26,210         155,818   

Leighton Holdings Ltd.

    1,883         40,268   

Lend Lease Group

    6,653         70,653   

Lynas Corp. Ltd.*(c)

    21,275         12,404   

Macquarie Group Ltd.

    4,274         165,313   

Metcash Ltd.

    9,515         41,013   

Mirvac Group REIT

    42,589         71,833   

National Australia Bank Ltd.

    27,867         894,784   

Newcrest Mining Ltd.

    9,607         200,547   

Orica Ltd.

    4,536         115,469   

Origin Energy Ltd.

    13,169         182,081   

OZ Minerals Ltd.

    4,030         22,364   

Paladin Energy Ltd.*

    8,668         8,934   

Qantas Airways Ltd.*

    14,166         26,327   

QBE Insurance Group Ltd.

    13,013         183,040   

Ramsay Health Care Ltd.

    1,615         54,311   

Rio Tinto Ltd.

    5,420         322,782   

Santos Ltd.

    10,729         138,849   
     Shares      Value($)  

Australia—continued

    

Shopping Centres Australasia Property Group REIT*

    3,013         5,192   

Sims Metal Management Ltd.

    2,055         21,460   

Sonic Healthcare Ltd.

    4,590         66,570   

SP Ausnet

    17,329         21,560   

Stockland REIT

    29,711         112,908   

Suncorp Group Ltd.

    15,975         196,595   

Sydney Airport

    5,287         18,055   

TABCORP Holdings Ltd.

    8,539         28,716   

Tatts Group Ltd.

    16,004         52,820   

Telstra Corp. Ltd.

    55,016         258,332   

Toll Holdings Ltd.

    8,221         50,757   

Transurban Group

    16,588         110,186   

Wesfarmers Ltd.

    10,683         447,129   

Wesfarmers Ltd. PPS

    1,896         80,540   

Westfield Group REIT

    27,380         309,298   

Westfield Retail Trust REIT

    36,590         115,049   

Westpac Banking Corp.

    40,469         1,296,052   

Woodside Petroleum Ltd.

    7,812         291,341   

Woolworths Ltd.

    15,065         529,994   

WorleyParsons Ltd.

    2,412         62,003   
    

 

 

 
       13,045,198   
    

 

 

 

Austria 1.5%

    

Andritz AG(c)

    8,359         560,823   

Erste Group Bank AG*

    24,893         693,385   

Immofinanz AG*

    94,456         357,787   

OMV AG

    16,628         707,112   

Raiffeisen Bank International AG(c)

    4,935         167,732   

Telekom Austria AG

    25,772         169,111   

Verbund AG(c)

    6,744         146,184   

Vienna Insurance Group

    3,843         186,110   

Voestalpine AG

    13,048         400,661   
    

 

 

 
       3,388,905   
    

 

 

 

Belgium 2.2%

    

Ageas

    8,867         299,896   

Anheuser-Busch InBev NV

    28,583         2,830,374   

Belgacom SA

    6,128         152,351   

Colruyt SA

    3,047         147,346   

Delhaize Group SA

    4,133         225,452   

Dexia SA*(c)

    24,959         1,600   

Groupe Bruxelles Lambert SA

    2,902         221,894   

KBC Groep NV

    6,379         219,714   

Mobistar SA

    1,204         27,039   

Solvay SA

    2,120         287,106   

UCB SA

    4,050         258,537   

Umicore

    4,558         214,105   
    

 

 

 
       4,885,414   
    

 

 

 

Cayman Islands 0.1%

    

Sands China Ltd.

    16,487         85,487   

Veripos, Inc*

    1,325         4,991   
 

 

See Notes to Financial Statements.

 

32


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

Cayman Islands—continued

    

Wynn Macau Ltd.*

    11,416         30,369   
    

 

 

 
       120,847   
    

 

 

 

Denmark 1.3%

    

A.P. Moller—Maersk A/S, Cl B

    32         249,777   

A.P. Moller—Maersk A/S, Cl A

    15         112,131   

Carlsberg A/S, Cl B(c)

    2,204         214,474   

Coloplast A/S, Cl B

    3,061         164,670   

Danske Bank A/S*

    13,494         241,279   

DSV A/S(c)

    5,059         122,204   

Novo Nordisk A/S, Cl B(c)

    8,496         1,380,359   

Novozymes A/S, Cl B

    5,524         187,286   

Pandora A/S

    1,434         39,447   

TDC A/S

    8,863         68,098   

Tryg A/S

    604         48,745   

William Demant Holding A/S*

    555         46,498   
    

 

 

 
       2,874,968   
    

 

 

 

Finland 0.9%

    

Elisa Oyj(c)

    2,717         50,466   

Fortum Oyj

    11,487         231,471   

Kesko Oyj, Cl B

    1,286         40,173   

Kone Oyj, Cl B

    4,090         321,644   

Metso Oyj(c)

    2,419         102,915   

Neste Oil Oyj(c)

    2,485         35,039   

Nokia Oyj(c)

    96,565         312,426   

Nokian Renkaat Oyj

    2,046         91,006   

Orion Oyj, Cl B(c)

    1,778         46,699   

Outokumpu Oyj*

    2,962         2,252   

Pohjola Bank PLC

    2,639         38,361   

Rautaruukki Oyj

    1,602         10,169   

Sampo Oyj, Cl A

    10,948         421,011   

Sanoma Oyj(c)

    1,560         14,308   

Stora Enso Oyj

    11,006         71,034   

UPM-Kymmene Oyj

    9,871         110,146   

Wartsila Oyj

    3,166         142,245   
    

 

 

 
       2,041,365   
    

 

 

 

France 10.0%

    

Accor SA

    3,124         108,522   

Aeroports de Paris

    739         62,682   

Air France-KLM*

    2,935         27,690   

Air Liquide SA

    2,419         293,894   

Air Liquide SA(a)(b)

    6,113         742,692   

Alstom

    4,344         176,796   

Arkema SA

    1,187         107,985   

Atos Origin SA

    1,075         73,984   

AXA SA

    40,308         692,879   

BNP Paribas

    21,955         1,126,847   

Bouygues SA

    5,083         137,871   

Bureau Veritas SA

    1,193         148,490   

Cap Gemini SA

    3,172         144,344   

Carrefour SA

    12,411         339,738   

Casino Guichard-Perrachon SA

    1,188         124,842   
     Shares      Value($)  

France—continued

    

Christian Dior SA

    1,174         194,733   

CNP Assurances

    3,140         43,088   

Compagnie de Saint—Gobain

    8,534         316,365   

Compagnie Generale d’Optique Essilor International SA

    4,301         478,274   

Compagnie Generale de Geophysique-Veritas*

    3,019         67,994   

Compagnie Generale des Etablissements Michelin

    3,719         311,060   

Credit Agricole SA*

    20,774         171,119   

Danone SA

    12,451         866,326   

Dassault Systemes SA

    1,267         146,462   

Edenred

    3,389         110,907   

Electricite de France

    5,130         98,375   

Eramet

    113         12,228   

Eurazeo

    691         35,032   

European Aeronautic Defence and Space Co.

    8,651         440,245   

Eutelsat Communications

    2,122         74,816   

Fonciere Des Regions

    593         46,429   

France Telecom SA

    39,903         403,571   

GDF SUEZ

    26,390         508,097   

Gecina SA

    471         54,652   

Groupe Eurotunnel SA

    11,183         89,077   

ICADE REIT

    500         43,724   

Iliad SA

    409         87,004   

Imerys

    728         47,397   

JCDecaux SA

    1,427         39,108   

Klepierre

    2,237         87,875   

L’Oreal SA

    5,113         810,743   

Lafarge SA(b)

    6,229         413,844   

Lagardere SCA

    2,548         93,820   

Legrand SA

    4,281         186,688   

LVMH Moet Hennessy Louis Vuitton SA

    5,869         1,007,354   

Metropole Television SA

    1,250         19,428   

Natixis

    18,754         71,206   

Pernod-Ricard SA

    4,838         602,857   

Peugeot SA*(c)

    3,203         23,198   

PPR

    1,630         358,126   

Publicis Groupe SA

    4,036         270,628   

Remy Cointreau SA

    516         59,635   

Renault SA

    4,090         256,240   

Safran SA

    5,208         232,287   

Sanofi-Aventis

    26,976         2,741,094   

Schneider Electric SA

    11,935         872,037   

Scor SE

    3,612         103,713   

Societe BIC SA

    619         71,880   

Societe Generale*

    15,883         521,818   

Sodexo

    2,006         186,940   

Suez Environnement SA

    5,686         72,514   

Technip SA

    2,073         212,529   
 

 

See Notes to Financial Statements.

 

33


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

France—continued

    

Thales SA

    2,136         90,341   

Total SA

    48,574         2,325,895   

Unibail-Rodamco

    1,953         454,878   

Vallourec SA

    2,365         113,684   

Veolia Environnement SA

    7,392         93,219   

Vinci SA

    9,454         425,909   

Vivendi SA

    27,232         562,532   

Wendel SA

    697         73,763   

Zodiac Aerospace

    780         90,886   
    

 

 

 
       22,502,900   
    

 

 

 

Germany 12.5%

    

Adidas AG

    6,686         693,693   

Allianz SE

    14,473         1,965,608   

Axel Springer AG

    1,289         55,856   

BASF SE

    29,044         2,543,559   

Bayer AG

    26,515         2,735,036   

Bayerische Motoren Werke AG

    10,414         898,534   

Beiersdorf AG

    3,246         299,750   

Brenntag AG

    1,725         269,323   

Celesio AG

    2,789         52,375   

Commerzbank AG*

    118,005         173,198   

Continental AG

    2,547         304,515   

Daimler AG

    29,327         1,595,628   

Deutsche Bank AG

    30,099         1,173,485   

Deutsche Boerse AG

    6,352         384,684   

Deutsche Lufthansa AG

    7,448         145,452   

Deutsche Post AG

    27,211         626,976   

Deutsche Telekom AG

    90,426         955,816   

E.ON AG

    57,482         1,003,567   

Fraport AG

    1,187         66,530   

Fresenius Medical Care AG

    6,252         421,944   

Fresenius SE

    3,617         446,444   

GEA Group AG

    5,461         179,975   

Hannover Rueckversicherung AG

    1,926         151,069   

Heidelberg Cement AG

    4,522         324,953   

Henkel AG & Co. KGaA

    4,214         332,746   

Hochtief AG*

    1,353         88,001   

Hugo Boss AG

    849         95,138   

Infineon Technologies AG

    35,489         280,228   

K+S AG

    5,497         255,676   

Kabel Deutschland Holding AG

    2,351         216,921   

Lanxess AG

    2,662         188,768   

Linde AG

    5,994         1,114,479   

MAN SE

    1,473         158,361   

Merck KGaA

    2,105         317,589   

Metro AG

    4,181         118,872   

Muenchener Rueckversicherungs AG

    5,817         1,087,907   

RWE AG

    16,098         599,970   

Salzgitter AG

    1,256         50,417   

SAP AG

    29,528         2,365,656   
     Shares      Value($)  

Germany—continued

    

Siemens AG

    26,193         2,821,351   

Suedzucker AG

    2,126         89,796   

ThyssenKrupp AG*

    10,565         214,856   

United Internet AG

    3,610         87,783   

Volkswagen AG

    924         173,815   

Wacker Chemie AG

    497         35,568   
    

 

 

 
       28,161,868   
    

 

 

 

Greece 1.6%

    

Alpha Bank AE*

    2,054         1,869   

Coca-Cola Hellenic Bottling Co. SA

    104,249         2,792,902   

National Bank of Greece SA*

    1,536         1,305   

OPAP SA

    115,458         911,680   
    

 

 

 
       3,707,756   
    

 

 

 

Guernsey 0.0%(d)

    

Resolution Ltd.

    12,277         50,833   
    

 

 

 

Hong Kong 1.1%

    

AIA Group Ltd.

    52,481         229,191   

ASM Pacific Technology Ltd.

    1,540         16,932   

Bank of East Asia Ltd.

    10,630         41,835   

BOC Hong Kong Holdings Ltd.

    25,528         85,339   

Cathay Pacific Airways Ltd.

    9,843         16,839   

Cheung Kong (Holdings) Ltd.

    10,239         151,160   

Cheung Kong Infrastructure Holdings Ltd.

    5,854         40,120   

CLP Holdings Ltd.

    13,366         117,086   

Esprit Holdings Ltd.

    8,401         10,087   

Foxconn International Holdings Ltd.*

    15,624         5,837   

Galaxy Entertainment Group Ltd.*

    10,803         45,091   

Hang Lung Properties Ltd.

    16,935         63,376   

Hang Seng Bank Ltd.

    5,224         83,651   

Henderson Land Development Co. Ltd.

    9,358         63,954   

HKT Trust / HKT Ltd.

    2,296         2,298   

Hong Kong & China Gas Co. Ltd. (The)

    35,828         104,310   

Hong Kong Electric Holdings Ltd.

    10,200         96,119   

Hong Kong Exchanges & Clearing Ltd.

    7,039         119,968   

Hopewell Holdings Ltd.

    4,581         18,589   

Hutchison Whampoa Ltd.

    15,113         157,603   

Hysan Development Co. Ltd.

    6,257         31,718   

Kerry Properties Ltd.

    5,507         24,511   

Li & Fung Ltd.

    39,707         54,733   

Lifestyle International Holdings Ltd.

    4,893         10,804   

Link REIT (The)

    15,576         85,078   

MTR Corp.

    10,121         40,223   
 

 

See Notes to Financial Statements.

 

34


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

Hong Kong—continued

    

New World Development Ltd.

    25,251         42,809   

Newton Resources Ltd.*

    391         42   

Noble Group Ltd.

    41,598         40,748   

NWS Holdings Ltd.

    10,372         18,573   

Orient Overseas International Ltd.

    3,031         20,499   

PCCW Ltd.

    27,824         12,832   

Shangri-La Asia Ltd.

    14,968         29,425   

Sino Land Co. Ltd.

    21,602         36,622   

SJM Holdings Ltd.

    12,210         30,515   

Sun Hung Kai Properties Ltd.

    10,664         143,422   

Swire Pacific Ltd.

    5,132         65,484   

Swire Properties Ltd.

    3,392         12,060   

Wharf Holdings Ltd. (The)

    11,197         100,033   

Wheelock & Co. Ltd.

    8,192         43,901   

Wing Hang Bank Ltd.

    2,364         25,125   

Yue Yuen Industrial (Holdings) Ltd.

    5,544         18,105   
    

 

 

 
       2,356,647   
    

 

 

 

Ireland 0.8%

    

CRH PLC

    36,426         804,048   

Elan Corp. PLC*

    27,363         314,590   

Experian PLC

    8,532         147,789   

Irish Bank Resolution Corp. Ltd.*(a)(c)

    8,839           

Irish Bank Resolution Corp. Ltd.*(a)(b)

    131,459           

James Hardie Industries SE

    5,355         55,810   

Kerry Group PLC, Cl A

    7,848         467,638   

Prothena Corp. PLC*

    668         4,469   

Ryanair Holdings PLC

    10,474         79,885   
    

 

 

 
       1,874,229   
    

 

 

 

Israel 0.8%

    

Bank Hapoalim BM*

    27,470         124,457   

Bank Leumi Le-Israel BM*

    30,974         109,166   

Bezeq Israeli Telecommunication Corp. Ltd.

    43,887         60,809   

Cellcom Israel Ltd.

    1,392         11,661   

Delek Group Ltd.

    123         34,525   

Elbit Systems Ltd.

    617         26,054   

Israel Chemicals Ltd.

    11,343         146,565   

Israel Corp. Ltd. (The)

    61         46,285   

Mellanox Technologies Ltd.*

    946         52,275   

Mizrahi Tefahot Bank Ltd.*

    3,169         33,803   

NICE Systems Ltd.*

    1,617         59,435   

Partner Communications Co. Ltd.

    2,170         13,375   

Teva Pharmaceutical Industries Ltd.

    27,571         1,085,422   

Teva Pharmaceutical Industries Ltd. SP ADR

    31         1,230   
    

 

 

 
       1,805,062   
    

 

 

 
     Shares      Value($)  

Italy 7.2%

    

A2A SpA

    2,285         1,357   

Assicurazioni Generali SpA

    91,388         1,422,150   

Atlantia SpA(c)

    26,139         412,798   

Banca Monte dei Paschi di Siena SpA*(c)

    328,254         77,843   

Banco Popolare Scarl*

    111,673         140,786   

Enel Green Power SpA

    110,129         206,530   

Enel SpA

    520,443         1,698,514   

Eni SpA

    197,173         4,430,644   

Exor SpA

    3,941         110,078   

Fiat Industrial SpA

    68,566         770,807   

Fiat SpA*

    70,795         376,607   

Finmeccanica SpA*

    25,109         120,697   

Intesa Sanpaolo SpA

    778,901         1,140,213   

Intesa Sanpaolo SpA—RSP

    58,700         74,003   

Luxottica Group SpA

    9,235         462,980   

Mediobanca SpA

    33,487         170,414   

Pirelli & C SpA

    14,592         153,098   

Prysmian SpA

    16,053         330,270   

Saipem SpA

    21,171         651,042   

Snam Rete Gas SpA

    125,888         573,830   

Telecom Italia SpA

    731,770         516,849   

Telecom Italia SpA

    471,774         290,277   

Terna SpA

    100,908         417,797   

UniCredit SpA*

    318,672         1,360,272   

Unione di Banche Italiane ScpA

    66,927         246,562   
    

 

 

 
       16,156,418   
    

 

 

 

Japan 23.1%

    

ABC-Mart, Inc.

    823         31,343   

ADVANTEST Corp.

    3,556         49,864   

AEON Co. Ltd.

    12,105         156,368   

AEON Credit Service Co. Ltd.(c)

    1,994         56,387   

AEON Mall Co. Ltd.

    1,844         56,103   

Air Water, Inc.

    5,830         81,007   

Aisin Seiki Co. Ltd.

    4,617         168,965   

Ajinomoto Co., Inc.

    13,926         204,300   

Alfresa Holdings Corp.

    1,029         55,858   

All Nippon Airways Co. Ltd.(c)

    21,235         43,763   

Amada Co. Ltd.

    10,807         71,293   

Aozora Bank Ltd.

    14,660         41,269   

Asahi Breweries Ltd.

    7,821         186,853   

Asahi Glass Co. Ltd.

    24,262         167,786   

Asahi Kasei Corp.

    26,287         176,764   

ASICS Corp.

    3,621         59,545   

Astellas Pharma, Inc.

    9,029         485,332   

Bank of Kyoto Ltd. (The)

    9,469         92,442   

Bank of Yokohama Ltd. (The)

    25,660         148,287   

Benesse Holdings, Inc.

    1,686         71,642   

Bridgestone Corp.

    13,194         441,505   

Brother Industries Ltd.

    5,798         59,560   

Canon, Inc.

    22,805         835,792   

Casio Computer Co. Ltd.

    5,695         44,345   
 

 

See Notes to Financial Statements.

 

35


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

Japan—continued

    

Central Japan Railway Co.

    3,100         326,680   

Chiba Bank Ltd. (The)

    15,999         114,892   

Chiyoda Corp.

    6,179         68,922   

Chubu Electric Power Co., Inc.

    13,050         158,593   

Chugai Pharmaceutical Co. Ltd.

    5,363         119,184   

Chugoku Bank Ltd. (The)

    6,135         98,932   

Chugoku Electric Power Co., Inc. (The)

    7,289         95,008   

Chuo Mitsui Trust Holdings, Inc.

    62,910         297,391   

Citizen Holdings Co. Ltd.

    6,286         31,986   

Coca-Cola West Co. Ltd.

    1,485         25,840   

Cosmo Oil Co. Ltd.*

    15,080         31,719   

Credit Saison Co. Ltd.

    3,625         90,264   

Dai Nippon Printing Co. Ltd.

    15,230         144,801   

Dai-ichi Life Insurance Co. Ltd. (The)

    172         229,126   

Daicel Corp.

    8,771         68,297   

Daido Steel Co. Ltd.

    7,950         42,142   

Daihatsu Motor Co. Ltd.

    3,899         80,685   

Daiichi Sankyo Co. Ltd.

    13,474         259,074   

Daikin Industries Ltd.

    5,385         210,801   

Dainippon Sumitomo Pharma Co. Ltd.

    3,683         65,025   

Daito Trust Construction Co. Ltd.

    1,563         133,827   

Daiwa House Industry Co. Ltd.

    11,232         218,949   

Daiwa Securities Group, Inc.

    34,323         241,375   

DeNa Co. Ltd.

    2,463         66,981   

Denki Kagaku Kogyo Kabushiki Kaisha

    12,384         44,466   

DENSO Corp.

    9,893         417,748   

Dentsu, Inc.

    4,319         128,375   

East Japan Railway Co.

    6,772         556,090   

Eisai Co. Ltd.

    5,077         226,789   

Electric Power Development Co. Ltd.

    2,820         71,687   

Elpida Memory, Inc.*(a)(b)

    7,744         82   

FamilyMart Co. Ltd.

    1,562         71,268   

FANUC Ltd.

    3,924         599,844   

Fast Retailing Co. Ltd.

    1,154         366,912   

Fuji Electric Holdings Co. Ltd.

    15,146         44,247   

Fuji Heavy Industries Ltd.

    15,518         244,635   

FUJIFILM Holdings Corp.

    9,393         184,996   

Fujitsu Ltd.

    37,204         154,531   

Fukuoka Financial Group, Inc.

    20,254         101,125   

Furukawa Electric Co. Ltd.

    15,334         33,719   

Gree, Inc.(c)

    2,198         27,599   

GS Yuasa Corp.

    10,321         42,979   

Gunma Bank Ltd. (The)

    10,490         62,404   

Hachijuni Bank Ltd. (The)

    11,268         67,152   

Hakuhodo DY Holdings, Inc.

    558         42,798   

Hamamatsu Photonics K.K.

    1,620         63,933   

Hankyu Hanshin Holdings, Inc.

    22,000         132,512   
     Shares      Value($)  

Japan—continued

    

Hino Motors Ltd.

    7,909         85,362   

Hirose Electric Co. Ltd.

    995         130,750   

Hiroshima Bank Ltd. (The)

    713         3,439   

Hisamitsu Pharmaceutical Co., Inc.

    1,580         85,265   

Hitachi Chemical Co. Ltd.

    2,586         39,394   

Hitachi Construction Machinery Co. Ltd.

    2,593         55,367   

Hitachi High-Technologies Corp.

    1,538         32,056   

Hitachi Ltd.

    91,314         529,638   

Hitachi Metals Ltd.

    6,549         62,405   

Hokkaido Electric Power Co., Inc.*

    4,612         47,034   

Hokuriku Electric Power Co.

    4,346         53,508   

Honda Motor Co. Ltd.

    33,211         1,270,087   

Hoya Corp.

    8,760         164,340   

Ibiden Co. Ltd.

    2,934         45,692   

Idemitsu Kosan Co. Ltd.

    824         71,515   

IHI Corp.

    32,016         96,931   

Inpex Corp.

    46         246,285   

Isetan Mitsukoshi Holdings Ltd.

    8,983         129,303   

Isuzu Motors Ltd.

    24,565         147,961   

ITOCHU Corp.

    29,219         356,643   

Itochu Techno-Solutions Corp.

    855         42,235   

Iyo Bank Ltd. (The)

    8,423         77,935   

J. Front Retailing Co. Ltd.

    12,755         99,184   

Japan Petroleum Exploration Co.

    822         32,265   

Japan Prime Realty Investment Corp. REIT

    16         61,784   

Japan Real Estate Investment Corp. REIT

    12         165,847   

Japan Retail Fund Investment Corp. REIT

    39         96,532   

Japan Steel Works Ltd. (The)(c)

    9,640         50,793   

Japan Tobacco, Inc.

    17,800         568,216   

JFE Holdings, Inc.

    9,344         179,167   

JGC Corp.

    5,708         145,891   

Joyo Bank Ltd. (The)

    15,592         86,627   

JS Group Corp.

    5,412         107,625   

JSR Corp.

    4,357         88,866   

JTEKT Corp.

    5,346         50,260   

Jupiter Telecommunications Co. Ltd.

    43         56,322   

JX Holdings, Inc.

    45,607         255,324   

Kajima Corp.

    21,502         58,246   

Kamigumi Co. Ltd.

    7,563         69,335   

Kaneka Corp.

    8,076         46,499   

Kansai Electric Power Co., Inc. (The)*

    14,917         141,191   

Kansai Paint Co. Ltd.

    7,377         81,658   

Kao Corp.

    10,039         324,200   

Kawasaki Heavy Industries Ltd.

    35,674         112,174   

Kawasaki Kisen Kaisha Ltd.*

    17,829         37,880   
 

 

See Notes to Financial Statements.

 

36


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

Japan—continued

    

KDDI Corp.

    10,600         441,972   

Keikyu Corp.

    11,975         124,794   

Keio Corp.

    15,210         130,392   

Keisei Electric Railway Co. Ltd.

    7,824         82,450   

Keyence Corp.

    986         301,660   

Kikkoman Corp.

    6,267         109,182   

Kinden Corp.

    6,098         39,904   

Kintetsu Corp.(c)

    33,601         156,342   

Kirin Holdings Co. Ltd.

    17,518         281,189   

Kobe Steel Ltd.*

    60,382         70,558   

Koito Manufacturing Co. Ltd.

    4,484         76,928   

Komatsu Ltd.

    18,441         437,444   

Konami Corp.

    2,216         44,139   

Konica Minolta Holdings, Inc.

    11,881         86,455   

Kubota Corp.

    22,348         322,394   

Kuraray Co. Ltd.

    8,202         115,099   

Kurita Water Industries Ltd.

    2,831         62,644   

Kyocera Corp.

    3,169         289,177   

Kyowa Hakko Kirin Co. Ltd.

    8,038         90,853   

Kyushu Electric Power Co., Inc.*

    9,961         101,372   

Lawson, Inc.

    1,510         115,814   

Mabuchi Motor Co. Ltd.

    773         41,551   

Makita Corp.

    2,800         124,035   

Marubeni Corp.

    34,541         262,722   

Marui Group Co. Ltd.

    5,394         55,754   

Maruichi Steel Tube Ltd.

    1,262         29,346   

Mazda Motor Corp.*

    36,162         105,641   

McDonald’s Holdings Co. (Japan) Ltd.

    1,625         43,743   

Medipal Holdings Corp.

    3,520         49,247   

Meiji Holdings Co. Ltd.

    1,708         78,111   

Miraca Holdings, Inc.

    1,493         71,529   

Mitsubishi Chemical Holdings Corp.

    27,151         128,638   

Mitsubishi Corp.

    28,063         524,681   

Mitsubishi Electric Corp.

    39,627         320,350   

Mitsubishi Estate Co. Ltd.

    25,440         716,433   

Mitsubishi Gas Chemical Co., Inc.

    10,246         67,483   

Mitsubishi Heavy Industries Ltd.

    61,624         354,812   

Mitsubishi Logistics Corp.

    5,298         97,704   

Mitsubishi Materials Corp.

    28,417         79,997   

Mitsubishi Motors Corp.*

    93,041         96,861   

Mitsubishi Tanabe Pharma Corp.

    5,366         82,085   

Mitsubishi UFJ Financial Group, Inc.

    260,424         1,560,303   

Mitsubishi UFJ Lease & Finance Co. Ltd.

    13,940         72,710   

Mitsui & Co. Ltd.

    35,069         491,007   

Mitsui Chemicals, Inc.

    20,183         43,739   

Mitsui Fudosan Co. Ltd.

    16,236         460,855   

Mitsui O.S.K. Lines Ltd.*

    27,908         91,609   

Mizuho Financial Group, Inc.

    451,713         964,512   
     Shares      Value($)  

Japan—continued

    

MS&AD Insurance Group Holdings, Inc.

    10,355         229,133   

Murata Manufacturing Co. Ltd.

    4,186         314,834   

Nabtesco Corp.

    2,254         46,021   

Namco Bandai Holdings, Inc.

    4,703         82,934   

NEC Corp.

    64,648         171,690   

NGK Insulators Ltd.

    7,762         82,374   

NGK Spark Plug Co. Ltd.

    6,568         100,263   

NHK Spring Co. Ltd.

    3,613         37,575   

Nidec Corp.(c)

    2,239         133,672   

Nikon Corp.

    6,932         162,374   

Nintendo Co. Ltd.

    2,251         242,712   

Nippon Building Fund, Inc. REIT

    15         209,699   

Nippon Electric Glass Co. Ltd.

    10,541         52,293   

Nippon Express Co. Ltd.

    22,069         105,498   

Nippon Meat Packers, Inc.

    7,001         112,822   

Nippon Paper Group, Inc.*(c)

    2,420         37,688   

Nippon Sheet Glass Co. Ltd.*

    22,197         24,523   

Nippon Steel Corp.

    164,450         415,776   

Nippon Telegraph & Telephone Corp.

    8,684         378,227   

Nippon Yusen Kabushiki Kaisha

    35,966         92,078   

Nishi-Nippon City Bank Ltd. (The)

    16,627         51,222   

Nissan Motor Co. Ltd.

    48,218         464,585   

Nisshin Seifun Group, Inc.

    5,238         68,998   

Nisshin Steel Holdings Co. Ltd.*

    1,700         13,382   

Nissin Foods Holdings Co. Ltd.

    1,507         69,078   

Nitori Holdings Co. Ltd.

    912         70,240   

Nitto Denko Corp.

    3,446         206,097   

NKSJ Holdings, Inc.

    7,600         158,967   

NOK Corp.

    2,540         36,507   

Nomura Holdings, Inc.

    74,284         457,691   

Nomura Real Estate Holdings, Inc.

    2,259         50,395   

Nomura Real Estate Office Fund, Inc. REIT

    8         58,809   

Nomura Research Institute Ltd.

    2,408         62,109   

NSK Ltd.

    11,323         85,763   

NTN Corp.

    11,962         31,895   

NTT Data Corp.

    31         101,923   

NTT DoCoMo, Inc.

    303         449,342   

NTT Urban Development Corp.

    28         33,552   

Obayashi Corp.

    15,583         74,327   

Odakyu Electric Railway Co. Ltd.

    13,207         164,149   

OJI Paper Co. Ltd.

    21,651         80,960   

Olympus Corp.*

    5,084         120,113   

Omron Corp.

    4,800         120,848   

Ono Pharmaceutical Co. Ltd.

    1,655         102,146   

Oracle Corp. Japan

    1,085         48,813   

Oriental Land Co. Ltd.

    1,038         169,811   

ORIX Corp.

    21,200         269,349   
 

 

See Notes to Financial Statements.

 

37


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

Japan—continued

    

Osaka Gas Co. Ltd.

    38,408         167,692   

Otsuka Corp.

    642         69,768   

Otsuka Holdings Co. Ltd.

    6,095         211,400   

Panasonic Corp.

    43,644         326,397   

Rakuten, Inc.

    14,700         150,068   

Resona Holdings, Inc.

    36,139         190,033   

Ricoh Co. Ltd.

    14,418         155,920   

Rinnai Corp.

    1,000         71,068   

Rohm Co. Ltd.

    2,387         82,538   

Sankyo Co. Ltd.

    1,448         67,681   

Sanrio Co. Ltd.(c)

    1,200         53,094   

Santen Pharmaceutical Co. Ltd.

    1,865         86,281   

SBI Holdings, Inc.

    4,840         42,675   

Secom Co. Ltd.

    4,366         224,712   

Sega Sammy Holdings, Inc.

    4,030         80,698   

Seiko Epson Corp.(c)

    3,156         30,509   

Sekisui Chemical Co. Ltd.

    11,187         123,118   

Sekisui House Ltd.

    11,975         162,194   

Seven & I Holdings Co. Ltd.

    14,858         491,663   

Seven Bank Ltd.

    12,700         40,744   

Sharp Corp.*(c)

    23,876         67,974   

Shikoku Electric Power Co., Inc.*

    4,545         64,601   

Shimadzu Corp.

    7,922         56,132   

Shimamura Co. Ltd.

    730         85,148   

Shimano, Inc.

    1,562         127,436   

Shimizu Corp.

    14,779         48,355   

Shin-Etsu Chemical Co. Ltd.

    8,164         538,572   

Shinsei Bank Ltd.

    34,015         77,689   

Shionogi & Co. Ltd.

    7,253         146,470   

Shiseido Co. Ltd.

    8,603         120,361   

Shizuoka Bank Ltd. (The)

    12,227         137,551   

Showa Denko Kabushiki Kaisha

    35,496         53,168   

Showa Shell Sekiyu Kabushiki Kaisha

    4,569         32,277   

SMC Corp.

    1,215         234,649   

Softbank Corp.

    17,845         818,934   

Sojitz Corp.

    30,890         48,237   

Sony Corp.(c)

    20,293         350,307   

Sony Financial Holdings, Inc.

    4,301         63,966   

Square Enix Holdings Co. Ltd.

    1,579         16,891   

Stanley Electric Co. Ltd.

    3,490         60,172   

Sumco Corp.

    2,801         31,540   

Sumitomo Chemical Co. Ltd.

    37,076         115,795   

Sumitomo Corp.

    21,868         274,816   

Sumitomo Electric Industries Ltd.

    15,185         185,346   

Sumitomo Heavy Industries Ltd.

    14,687         57,884   

Sumitomo Metal Mining Co. Ltd.

    11,703         165,099   

Sumitomo Mitsui Financial Group, Inc.

    26,516         1,081,653   

Sumitomo Realty & Development Co. Ltd.

    8,736         338,267   
     Shares      Value($)  

Japan—continued

    

Sumitomo Rubber Industries Ltd.

    4,168         69,515   

Suruga Bank Ltd.

    6,451         103,274   

Suzuken Co. Ltd.

    1,764         63,806   

Suzuki Motor Corp.

    8,199         182,819   

Sysmex Corp.

    1,732         105,243   

T&D Holdings, Inc.

    11,700         139,080   

Taisei Corp.

    25,704         71,267   

Taisho Pharmaceutical Holdings Co. Ltd.

    1,000         70,643   

Taiyo Nippon Sanso Corp.

    8,064         55,853   

Takashimaya Co. Ltd.

    8,513         84,104   

Takeda Pharmaceutical Co. Ltd.

    15,878         866,977   

TDK Corp.

    2,568         89,615   

Teijin Ltd.

    22,202         51,180   

Terumo Corp.

    3,155         134,901   

THK Co. Ltd.

    2,848         56,152   

Tobu Railway Co. Ltd.

    23,830         136,446   

Toho Co. Ltd.

    2,841         59,274   

Toho Gas Co. Ltd.

    10,843         68,881   

Tohoku Electric Power Co., Inc.*

    11,313         89,893   

Tokio Marine Holdings, Inc.

    14,315         411,194   

Tokyo Electric Power Co., Inc. (The)*

    36,259         89,362   

Tokyo Electron Ltd.

    3,585         151,954   

Tokyo Gas Co. Ltd.

    50,126         270,505   

Tokyu Corp.

    27,940         206,281   

Tokyu Land Corp.

    10,984         102,915   

TonenGeneral Sekiyu Kabushiki Kaisha

    8,223         81,326   

Toppan Printing Co. Ltd.

    15,351         110,238   

Toray Industries, Inc.

    31,003         209,464   

Toshiba Corp.

    76,922         388,961   

Tosoh Corp.

    12,787         36,404   

TOTO Ltd.

    8,861         79,258   

Toyo Seikan Kaisha Ltd.

    3,673         50,490   

Toyo Suisan Kaisha Ltd.

    2,080         64,078   

Toyoda Gosei Co. Ltd.

    1,528         36,538   

Toyota Boshoku Corp.

    1,577         22,180   

Toyota Industries Corp.

    3,406         124,647   

Toyota Motor Corp.

    55,426         2,840,925   

Toyota Tsusho Corp.

    5,075         129,281   

Trend Micro, Inc.

    2,519         70,404   

Tsumura & Co.

    1,480         54,005   

Ube Industries Ltd.

    24,321         47,797   

Uni-Charm Corp.

    2,452         139,876   

Ushio, Inc.

    2,550         25,978   

USS Co. Ltd.

    534         61,265   

West Japan Railway Co.

    3,500         168,056   

Yahoo Japan Corp.

    352         161,725   

Yakult Honsha Co. Ltd.

    2,410         97,030   

Yamada Denki Co. Ltd.

    1,949         89,028   

Yamaguchi Financial Group, Inc.

    7,991         79,541   
 

 

See Notes to Financial Statements.

 

38


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

Japan—continued

    

Yamaha Corp.

    3,711         35,953   

Yamaha Motor Co. Ltd.

    6,618         89,004   

Yamato Holdings Co. Ltd.

    7,593         137,285   

Yamato Kogyo Co. Ltd.

    1,065         29,042   

Yamazaki Baking Co. Ltd.

    5,602         73,793   

Yaskawa Electric Corp.

    8,063         80,600   

Yokogawa Electric Corp.

    4,982         49,749   
    

 

 

 
       52,153,864   
    

 

 

 

Jersey 0.1%

    

Petrofac Ltd.

    2,256         49,122   

Randgold Resources Ltd.

    794         68,526   

Shire PLC

    4,954         150,848   
    

 

 

 
       268,496   
    

 

 

 

Luxembourg 0.6%

    

ArcelorMittal

    18,226         234,798   

Millicom International Cellular SA

    902         72,046   

SES

    6,374         199,769   

Tenaris SA

    37,133         754,444   
    

 

 

 
       1,261,057   
    

 

 

 

Mauritius 0.0%(d)

    

Essar Energy PLC*

    2,825         5,923   

Golden Agri-Resources Ltd.

    74,525         34,849   
    

 

 

 
       40,772   
    

 

 

 

Netherlands 3.3%

    

Aegon NV

    44,830         269,570   

Akzo Nobel NV

    6,016         381,879   

ASML Holding NV

    8,652         581,922   

Corio NV REIT

    1,566         73,059   

DE Master Blenders 1753 NV*

    15,995         247,064   

Delta Lloyd NV

    2,609         44,747   

Fugro NV

    1,742         96,420   

Gemalto

    1,902         165,911   

Heineken Holding NV

    3,025         193,841   

Heineken NV

    6,081         458,342   

ING Groep NV*

    99,666         707,390   

Koninklijke Ahold NV

    23,815         364,954   

Koninklijke Boskalis Westminster NV

    1,837         72,974   

Koninklijke DSM NV

    4,005         233,126   

Koninklijke KPN NV(c)

    26,160         87,991   

Koninklijke Philips Electronics NV

    25,956         768,078   

Koninklijke Vopak NV

    1,835         110,624   

QIAGEN NV*

    7,542         157,197   

Randstad Holding NV

    3,067         125,570   

Reed Elsevier NV

    17,805         305,034   

TNT Express NV

    9,485         69,522   

Unilever NV

    42,526         1,741,931   

Wolters Kluwer NV

    7,813         170,607   
    

 

 

 
       7,427,753   
    

 

 

 
     Shares      Value($)  

New Zealand 0.6%

    

Auckland International Airport Ltd.

    91,521         225,515   

Contact Energy Ltd.

    34,954         166,702   

Fletcher Building Ltd.

    64,278         460,907   

Sky City Entertainment Group Ltd.

    57,345         211,594   

Telecom Corp. of New Zealand Ltd.

    183,187         358,658   
    

 

 

 
       1,423,376   
    

 

 

 

Norway 1.6%

    

Aker Solutions ASA

    6,347         118,013   

DnB NOR ASA

    37,696         552,782   

Gjensidige Forsikring ASA

    7,704         127,087   

Kvaerner ASA

    6,347         13,149   

Norsk Hydro ASA(c)

    35,833         154,847   

Orkla ASA

    29,588         236,572   

Renewable Energy Corp. ASA*(c)

    19,629         3,858   

Seadrill Ltd.

    13,596         492,792   

StatoilHydro ASA

    42,528         1,028,113   

Telenor ASA

    27,340         597,752   

Yara International ASA

    7,142         323,550   
    

 

 

 
       3,648,515   
    

 

 

 

Portugal 0.9%

    

Banco Espirito Santo SA*

    207,949         212,981   

EDP—Energias de Portugal SA

    207,370         638,494   

Galp Energia SGPS SA

    24,950         390,822   

Jeronimo Martins SGPS SA

    21,820         425,004   

Portugal Telecom SGPS SA

    67,462         334,144   
    

 

 

 
       2,001,445   
    

 

 

 

Singapore 1.0%

    

Ascendas REIT

    20,653         43,293   

CapitaLand Ltd.

    28,395         80,811   

CapitaMall Trust REIT

    21,901         36,903   

CapitaMalls Asia Ltd.

    15,618         25,813   

City Developments Ltd.

    7,673         70,089   

ComfortDelGro Corp. Ltd.

    21,404         32,960   

Cosco Corp. (Singapore) Ltd.

    12,348         9,059   

DBS Group Holdings Ltd.

    20,475         264,119   

Fraser and Neave Ltd.(a)

    10,484         79,791   

Genting Singapore PLC

    66,031         79,588   

Global Logistic Properties Ltd.

    21,512         45,440   

Jardine Cycle & Carriage Ltd.

    2,240         92,338   

Keppel Corp. Ltd.

    15,216         137,396   

Keppel Land Ltd.

    9,331         29,640   

Neptune Orient Lines Ltd.*

    10,505         10,036   

Olam International Ltd.(c)

    15,369         21,312   

Oversea-Chinese Banking Corp. Ltd.

    27,697         237,815   

SembCorp Industries Ltd.

    11,678         48,864   

SembCorp Marine Ltd.

    10,764         38,445   

Singapore Airlines Ltd.

    8,241         72,221   
 

 

See Notes to Financial Statements.

 

39


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

Singapore—continued

    

Singapore Exchange Ltd.

    10,207         63,364   

Singapore Press Holdings Ltd.

    16,433         59,354   

Singapore Technologies Engineering Ltd.

    17,124         59,503   

Singapore Telecommunications Ltd.

    87,345         252,807   

StarHub Ltd.

    7,593         26,629   

United Overseas Bank Ltd.

    14,857         244,113   

UOL Group Ltd.

    7,866         44,266   

Wilmar International Ltd.

    21,895         60,900   

Yangzijiang Shipbuilding Holdings Ltd.

    21,380         16,720   
    

 

 

 
       2,283,589   
    

 

 

 

Spain 5.5%

    

Abertis Infraestructuras SA

    12,609         211,895   

Acciona SA

    858         46,776   

Acerinox SA(c)

    3,405         34,918   

Actividades de Construccion y Servicios SA

    4,784         111,640   

Amadeus IT Holding SA, Cl A

    13,941         376,616   

Banco Bilbao Vizcaya Argentaria SA

    223,783         1,940,010   

Banco de Sabadell SA*(c)

    119,961         220,202   

Banco Popular Espanol SA

    235,395         174,406   

Banco Santander SA

    410,054         2,755,342   

Bankia SA*(c)

    34,489         7,295   

Criteria Caixacorp SA

    28,878         97,726   

Distribuidora Internacional de Alimentacion SA

    27,234         188,374   

Enagas

    6,067         141,269   

Ferrovial SA

    17,638         279,903   

Fomento de Construcciones y Contratas SA(c)

    1,745         16,642   

Gas Natural SDG SA

    14,435         255,533   

Grifols SA*

    6,624         245,601   

Iberdrola SA

    170,656         794,739   

Inditex SA

    9,557         1,266,717   

Mapfre SA

    25,493         78,787   

Red Electrica Corporacion SA

    3,658         184,044   

Repsol YPF SA

    33,804         686,807   

Telefonica SA

    169,233         2,275,611   

Zardoya Otis SA

    4,797         64,134   
    

 

 

 
       12,454,987   
    

 

 

 

Sweden 2.0%

    

Alfa Laval AB

    3,975         91,559   

Assa Abloy AB, Cl B

    3,658         149,373   

Atlas Copco AB, Cl A

    7,862         223,196   

Atlas Copco AB, Cl B

    4,565         115,306   

Boliden AB

    3,285         52,880   

Electrolux AB, Cl B

    2,891         73,555   

Elekta AB, B SHS

    6,277         95,313   
     Shares      Value($)  

Sweden—continued

    

Getinge AB

    2,345         71,611   

Hennes & Mauritz AB, Cl B

    12,177         435,390   

Hexagon AB, Cl B

    2,994         81,552   

Holmen AB

    620         18,439   

Husqvarna AB, Cl B

    5,277         31,144   

Industrivarden AB, Cl C

    1,385         25,207   

Investor AB, Cl B

    5,360         154,798   

Kinnevik Investment AB, Cl B

    2,444         59,220   

Lundin Petroleum AB*

    2,784         60,238   

Modern Times Group AB, Cl B

    572         22,760   

Nordea Bank AB

    31,311         354,597   

Ratos AB, B Shares

    2,273         24,015   

Sandvik AB

    11,929         183,423   

Scania AB

    3,758         78,602   

Securitas AB, Cl B

    3,709         34,918   

Skandinaviska Enskilda Banken AB, Cl A(c)

    16,741         168,141   

Skanska AB, Cl B

    4,735         85,595   

SKF AB, Cl B

    4,595         112,045   

SSAB AB, A Shares

    1,868         14,235   

Svenska Cellulosa AB, Cl B

    6,858         176,803   

Svenska Handelsbanken AB, Cl A

    5,839         249,543   

Swedbank AB, Cl A(c)

    9,589         218,074   

Swedish Match AB

    2,634         81,770   

Tele2 AB, Cl B

    3,753         65,309   

Telefonaktiebolaget LM Ericsson, Cl B

    35,153         438,027   

TeliaSonera AB(c)

    25,724         183,677   

Volvo AB, Cl B

    16,191         235,416   
    

 

 

 
       4,465,731   
    

 

 

 

Switzerland 2.7%

    

ABB Ltd.*

    11,238         253,456   

Actelion Ltd.*

    573         31,116   

Adecco SA*

    683         37,413   

Aryzta AG*

    444         26,215   

Baloise Holding AG

    247         23,131   

Compagnie Financiere Richemont SA, Cl A

    2,712         212,835   

Credit Suisse Group AG*

    5,900         154,818   

GAM Holding AG*

    1,109         18,750   

Geberit AG*

    202         49,729   

Givaudan SA*

    45         55,272   

Glencore International PLC(c)

    28,844         156,068   

Holcim Ltd.*

    1,274         101,525   

Julius Baer Group Ltd.*

    1,080         41,992   

Kuehne + Nagel International AG

    281         30,637   

Lindt & Spruengli AG PC*

    7         26,937   

Lindt & Spruengli AG RS*

    1         45,128   

Lonza Group AG*

    262         17,001   

Nestle SA

    18,127         1,310,880   

Novartis AG

    12,200         866,839   

Pargesa Holding SA

    139         9,437   
 

 

See Notes to Financial Statements.

 

40


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

Switzerland—continued

    

Roche Holding AG

    3,681         856,948   

Schindler Holding AG PC

    250         36,632   

Schindler Holding AG RS

    110         15,689   

SGS SA

    29         71,118   

Sika AG

    12         29,150   

Sonova Holding AG*

    257         30,836   

STMicroelectronics NV

    13,638         104,891   

Straumann Holding AG

    41         5,524   

Sulzer AG

    125         21,358   

Swatch Group AG (The) BS

    162         94,200   

Swatch Group AG (The) RS

    227         23,040   

Swiss Life Holding AG*

    158         23,418   

Swiss Re Ltd.

    1,826         148,496   

Swisscom AG

    124         57,369   

Syngenta AG

    485         202,317   

Transocean Ltd.

    1,630         84,531   

UBS AG*

    18,850         288,915   

Wolseley PLC

    2,314         115,079   

Xstrata PLC

    16,036         260,228   

Zurich Insurance Group AG*

    755         210,124   
    

 

 

 
       6,149,042   
    

 

 

 

United Kingdom 8.4%

    

3i Group PLC

    8,602         41,302   

Admiral Group PLC

    1,763         35,681   

Aggreko PLC

    2,312         62,601   

AMEC PLC

    2,866         45,986   

Anglo American PLC

    10,162         261,256   

Antofagasta PLC

    3,383         50,581   

ARM Holdings PLC

    11,810         165,271   

Associated British Foods PLC

    3,125         90,265   

AstraZeneca PLC

    9,545         478,531   

Aviva PLC

    24,397         109,801   

Babcock International Group PLC

    3,132         51,777   

BAE Systems PLC

    24,300         145,586   

Balfour Beatty PLC

    5,881         20,981   

Barclays PLC

    88,881         393,199   

BG Group PLC

    25,538         438,094   

BHP Billiton PLC

    16,316         474,754   

BP PLC

    146,402         1,023,050   

British American Tobacco PLC

    15,115         810,028   

British Land Co. PLC (The) REIT

    7,383         60,970   

British Sky Broadcasting Group PLC

    9,983         133,939   

BT Group PLC

    59,636         251,907   

Bunzl PLC

    2,876         56,591   

Burberry Group PLC

    3,744         75,604   

Capita Group PLC

    5,441         74,323   

Capital Shopping Centres Group PLC REIT

    4,860         24,686   

Carnival PLC

    1,604         56,153   

Centrica PLC

    39,792         222,319   
     Shares      Value($)  

United Kingdom—continued

    

Cobham PLC

    10,066         37,166   

Compass Group PLC

    16,233         207,311   

Diageo PLC

    19,360         610,393   

Eurasian Natural Resources Corp.

    2,269         8,485   

Fresnillo PLC

    1,550         31,936   

G4S PLC

    12,427         55,023   

GlaxoSmithKline PLC

    38,324         895,890   

Hammerson PLC REIT

    6,155         46,004   

Home Retail Group PLC

    8,292         19,554   

HSBC Holdings PLC

    139,161         1,485,423   

ICAP PLC

    4,914         21,683   

Imperial Tobacco Group PLC

    7,714         269,467   

Inmarsat PLC

    4,085         43,604   

InterContinental Hotels Group PLC

    2,353         71,756   

International Consolidated Airlines Group SA*

    31,899         122,669   

Intertek Group PLC

    1,399         72,125   

Invensys PLC

    7,095         37,818   

Investec PLC

    4,225         29,466   

ITV PLC

    32,686         64,266   

J Sainsbury PLC

    10,783         62,014   

Johnson Matthey PLC

    1,774         61,997   

Kazakhmys PLC

    1,862         11,102   

Kingfisher PLC

    20,780         90,870   

Land Securities Group PLC REIT

    6,671         84,029   

Legal & General Group PLC

    50,978         133,771   

Lloyds Banking Group PLC*

    365,406         270,335   

London Stock Exchange Group PLC

    1,312         26,035   

Lonmin PLC*

    1,415         6,254   

Man Group PLC

    16,623         22,517   

Marks & Spencer Group PLC

    14,078         83,424   

National Grid PLC

    27,335         317,736   

Next PLC

    1,586         105,214   

Old Mutual PLC

    41,329         127,290   

Pearson PLC

    6,998         125,896   

Prudential PLC

    19,624         317,558   

Reckitt Benckiser Group PLC

    5,370         384,963   

Reed Elsevier PLC

    10,653         126,418   

Rexam PLC

    6,885         55,184   

Rio Tinto PLC

    10,146         475,594   

Rolls-Royce Holdings PLC*

    14,465         248,361   

Royal Bank of Scotland Group PLC*

    15,545         65,073   

Royal Dutch Shell PLC, Cl A

    28,229         913,182   

Royal Dutch Shell PLC, Cl B

    20,184         670,108   

RSA Insurance Group PLC

    30,625         54,165   

SABMiller PLC

    7,382         388,542   

Sage Group PLC (The)

    11,440         59,570   

Schroders PLC

    1,003         32,126   

Scottish & Southern Energy PLC

    8,036         181,201   
 

 

See Notes to Financial Statements.

 

41


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — continued

 

     Shares      Value($)  

United Kingdom—continued

    

Segro PLC

    6,468         24,992   

Serco Group PLC

    4,362         41,557   

Severn Trent PLC

    2,065         53,717   

Smith & Nephew PLC

    7,805         90,131   

Smiths Group PLC

    3,494         66,734   

Standard Chartered PLC

    18,508         479,058   

Standard Life PLC

    19,927         110,606   

Subsea 7 SA

    10,808         252,586   

Tate & Lyle PLC

    4,378         56,543   

Tesco PLC

    61,992         359,396   

TUI Travel PLC

    4,513         22,327   

Tullow Oil PLC

    7,672         143,500   

Unilever PLC

    8,590         363,370   

United Utilities Group PLC

    5,916         63,688   

Vedanta Resources PLC

    1,041         15,897   

Vodafone Group PLC

    382,347         1,084,066   

Weir Group PLC (The)

    1,768         60,793   

Whitbread PLC

    1,538         60,012   

WM Morrison Supermarkets PLC

    19,785         83,032   

WPP PLC

    10,941         174,389   
    

 

 

 
       18,892,198   
    

 

 

 

Total Common Stocks
(Cost $122,437,475)

       215,443,235   
    

 

 

 
Preferred Stocks 0.9%     

Germany 0.9%

    

Bayerische Motoren Werke AG, 4.47%

    1,671         106,745   

Henkel AG & Co. KGaA, 1.12%

    5,693         547,975   

Porsche AG, 1.30%

    4,866         355,661   

ProSiebenSat.1 Media AG, 4.19%

    2,447         87,357   

RWE AG, 7.52%

    1,258         45,120   

Volkswagen AG, 2.02%

    4,554         904,820   
    

 

 

 

Total Preferred Stocks
(Cost $589,500)

       2,047,678   
    

 

 

 
Rights 0.0%(d)     

Austria 0.0%(a)(b)(d)(e)

    

IMMOEAST AG*

    175,419           
    

 

 

 

Total Rights
(Cost $—)

         
    

 

 

 

Exchange Traded Funds 3.1%

    

iShares MSCI Australia Index Fund

    9,726         262,991   

iShares MSCI Austria Investable Market Index Fund

    5,912         101,686   

iShares MSCI Belgium Investable Market Index Fund

    4,475         63,456   

iShares MSCI EAFE Index Fund

    38,163         2,250,854   

iShares MSCI EMU Index Fund(c)

    57,070         1,863,336   
     Shares      Value($)  

Exchange Traded Funds—continued

  

iShares MSCI Germany Index Fund(c)

    12,186         298,191   

iShares MSCI Italy Index Fund(c)

    33,503         395,335   

iShares MSCI Japan Index Fund(c)

    112,587         1,215,940   

iShares MSCI Netherlands Investable Market Index Fund

    1,464         30,144   

iShares MSCI Singapore Index Fund

    2,026         28,283   

iShares MSCI Spain Index Fund(c)

    7,190         203,477   

iShares MSCI Sweden Index Fund

    3,081         100,163   

iShares MSCI United Kingdom Index Fund(c)

    9,304         169,984   
    

 

 

 

Total Exchange Traded Funds
(Cost $7,064,584)

       6,983,840   
    

 

 

 
Trust 0.0%(d)     

Singapore 0.0%(d)

    

Hutchison Port Holdings Trust

    59,590         50,651   
    

 

 

 

Total Trust
(Cost $49,050)

       50,651   
    

 

 

 

Short-Term Investment 4.4%

    

RidgeWorth Funds Securities Lending Joint Account(f)

    9,873,673         9,873,673   
    

 

 

 

Total Short-Term Investment (Cost $9,873,673)

       9,873,673   
    

 

 

 
Money Market Fund 0.0%(d)     

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(g)

    13,093         13,093   
    

 

 

 

Total Money Market Fund
(Cost $13,093)

       13,093   
    

 

 

 

Total Investments
(Cost $140,027,375) — 104.0%

       234,412,170   

Liabilities in excess of other assets — (4.0)%

       (8,952,217
    

 

 

 

Net Assets — 100.0%

     $ 225,459,953   
    

 

 

 

 

* Non-income producing security.

 

(a) Valued at fair value using procedures approved by the Board of Trustees (See Note 2(a)).

 

(b) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees.

 

(c) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $9,463,727.
 

 

See Notes to Financial Statements.

 

42


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund — concluded

 

 

(d) Less than 0.05% of Net Assets.

 

(e) Escrowed rights that are not tradable.

 

(f) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(h)).

 

(g) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

  BS     Bearer Shares
  MSCI     Morgan Stanley Capital International
  PC     Participation Certificate
  PPS     Partially Protected Shares
  REIT     Real Estate Investment Trust
  RSP     Retirement Savings Plan
  SP ADR     Sponsored American Depositary Receipt

 

See Notes to Financial Statements.

 

43


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Large Cap Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 100.0%     

Consumer Discretionary 19.6%

    

Amazon.com, Inc.*

    20,720         5,521,673   

BorgWarner, Inc.*

    39,523         3,056,709   

Chipotle Mexican Grill, Inc.*

    5,621         1,831,715   

DR Horton, Inc.

    120,983         2,939,887   

Home Depot, Inc. (The)

    17,735         1,237,548   

Las Vegas Sands Corp.

    72,554         4,088,418   

Macy’s, Inc.

    92,373         3,864,886   

Michael Kors Holdings Ltd.*

    47,624         2,704,567   

Priceline.com, Inc.*

    7,194         4,948,969   

Scripps Networks Interactive, Cl A

    43,336         2,788,238   

Starbucks Corp.

    88,221         5,025,068   

Under Armour, Inc., Cl A*

    50,891         2,605,619   

VF Corp.

    18,064         3,030,236   

Viacom, Inc., Cl B

    45,717         2,814,796   

Yum! Brands, Inc.

    52,883         3,804,403   
    

 

 

 
       50,262,732   
    

 

 

 

Consumer Staples 8.3%

    

Colgate-Palmolive Co.

    39,954         4,715,770   

Costco Wholesale Corp.

    43,970         4,665,657   

Estee Lauder Cos., Inc. (The), Cl A

    61,379         3,930,097   

Philip Morris International, Inc.

    85,015         7,881,741   
    

 

 

 
       21,193,265   
    

 

 

 

Energy 7.2%

    

Cameron International Corp.*

    61,123         3,985,220   

EOG Resources, Inc.

    34,393         4,404,712   

National Oilwell Varco, Inc.

    25,312         1,790,824   

Phillips 66

    30,684         2,146,959   

Schlumberger Ltd.

    82,011         6,141,804   
    

 

 

 
       18,469,519   
    

 

 

 

Financials 3.8%

    

Discover Financial Services

    58,777         2,635,561   

Morgan Stanley

    131,892         2,898,986   

T. Rowe Price Group, Inc.

    54,829         4,105,047   
    

 

 

 
       9,639,594   
    

 

 

 

Health Care 14.8%

    

Alexion Pharmaceuticals, Inc.*

    61,140         5,633,440   

Allergan, Inc.

    43,757         4,884,594   

Biogen Idec, Inc.*

    29,608         5,711,679   

Cerner Corp.*

    32,802         3,107,989   

Express Scripts Holding Co.*

    83,587         4,818,791   

Gilead Sciences, Inc.*

    98,988         4,843,483   

Intuitive Surgical, Inc.*

    7,644         3,754,656   

Mylan, Inc.*

    182,185         5,272,434   
    

 

 

 
       38,027,066   
    

 

 

 

Industrials 13.4%

    

BE Aerospace, Inc.*

    42,544         2,564,978   

Cummins, Inc.

    31,391         3,635,392   

Fluor Corp.

    50,235         3,332,087   
     Shares      Value($)  

Industrials—continued

    

Fortune Brands Home & Security, Inc.*

    57,658         2,158,139   

Honeywell International, Inc.

    80,955         6,099,959   

J.B. Hunt Transport Services, Inc.

    43,653         3,251,275   

Precision Castparts Corp.

    18,624         3,531,483   

Textron, Inc.

    51,032         1,521,264   

Union Pacific Corp.

    27,390         3,900,610   

United Parcel Service, Inc., Cl B

    49,100         4,217,690   
    

 

 

 
       34,212,877   
    

 

 

 

Information Technology 31.2%

    

Analog Devices, Inc.

    74,492         3,463,133   

Apple, Inc.

    37,450         16,576,494   

ARM Holdings PLC SP ADR

    71,233         3,018,142   

ASML Holding NV NYS(a)

    18,371         1,249,412   

Broadcom Corp., Cl A

    82,707         2,867,452   

Cognizant Technology Solutions Corp., Cl A*

    38,058         2,915,623   

EMC Corp.*

    192,578         4,600,688   

F5 Networks, Inc.*

    30,754         2,739,566   

Google, Inc., Cl A*

    12,650         10,044,480   

International Business Machines Corp.

    8,413         1,794,493   

NetApp, Inc.*

    86,364         2,950,194   

Oracle Corp.

    227,878         7,369,575   

QUALCOMM, Inc.

    103,883         6,954,967   

Red Hat, Inc.*

    34,947         1,766,920   

Salesforce.com, Inc.*

    16,534         2,956,775   

Visa, Inc., Cl A

    34,469         5,854,215   

Xilinx, Inc.

    74,759         2,853,551   
    

 

 

 
       79,975,680   
    

 

 

 

Materials 1.7%

    

Monsanto Co.

    41,647         4,399,173   
    

 

 

 

Total Common Stocks (Cost $186,458,184)

       256,179,906   
    

 

 

 

Short-Term Investment 0.5%

    

RidgeWorth Funds Securities Lending Joint Account(b)

    1,226,275         1,226,275   
    

 

 

 

Total Short-Term Investment (Cost $1,226,275)

       1,226,275   
    

 

 

 

Money Market Fund 0.1%

    

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(c)

    271,009         271,009   
    

 

 

 

Total Money Market Fund (Cost $271,009)

       271,009   
    

 

 

 

Total Investments (Cost $187,955,468) — 100.6%

       257,677,190   

Liabilities in excess of other assets — (0.6)%

       (1,655,052
    

 

 

 

Net Assets — 100.0%

     $ 256,022,138   
    

 

 

 
 

 

See Notes to Financial Statements.

 

44


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Large Cap Growth Stock Fund — concluded

 

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $1,199,306.

 

(b) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(h)).

 

(c) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

NYS     New York Registered Shares
SP ADR     Sponsored American Depositary Receipt
 

 

See Notes to Financial Statements.

 

45


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Large Cap Value Equity Fund

 

     Shares      Value($)  

Common Stocks 98.1%

    

Consumer Discretionary 9.8%

    

Comcast Corp., Cl A

    651,650         27,375,816   

Johnson Controls, Inc.

    744,100         26,095,587   

Lowe’s Cos., Inc.

    442,900         16,794,768   

Pearson PLC SP ADR(a)

    1,074,300         19,326,657   

Time Warner Cable, Inc.

    230,550         22,146,633   

Viacom, Inc., Cl B

    192,050         11,824,519   

Walt Disney Co. (The)

    260,650         14,804,920   

Wynn Resorts Ltd.

    257,900         32,278,764   
    

 

 

 
       170,647,664   
    

 

 

 

Consumer Staples 5.8%

    

ConAgra Foods, Inc.

    763,950         27,357,050   

Mondelez International, Inc., Cl A

    1,141,750         34,948,967   

Procter & Gamble Co. (The)

    504,450         38,872,917   
    

 

 

 
       101,178,934   
    

 

 

 

Energy 14.5%

    

Baker Hughes, Inc.

    595,500         27,637,155   

Chevron Corp.

    449,100         53,362,062   

ConocoPhillips

    623,450         37,469,345   

Exxon Mobil Corp.

    653,950         58,927,434   

National Oilwell Varco, Inc.

    384,250         27,185,688   

Occidental Petroleum Corp.

    615,950         48,272,001   
    

 

 

 
       252,853,685   
    

 

 

 

Financials 21.8%

    

American Tower Corp., REIT

    289,750         22,287,570   

Ameriprise Financial, Inc.

    216,100         15,915,765   

Aon PLC

    485,650         29,867,475   

BlackRock, Inc.

    110,450         28,372,396   

Comerica, Inc.

    491,950         17,685,603   

Equity Residential, REIT

    331,350         18,244,131   

Franklin Resources, Inc.

    153,000         23,073,930   

JPMorgan Chase & Co.

    963,950         45,749,067   

MetLife, Inc.

    670,700         25,500,014   

Progressive Corp. (The)

    523,700         13,233,899   

Prudential Financial, Inc.

    215,800         12,730,042   

Simon Property Group, Inc., REIT

    110,450         17,512,952   

Travelers Cos., Inc. (The)

    264,800         22,293,512   

U.S. Bancorp

    1,418,150         48,117,829   

Wells Fargo & Co.

    1,096,800         40,570,632   
    

 

 

 
       381,154,817   
    

 

 

 

Health Care 11.2%

    

Agilent Technologies, Inc.

    682,450         28,642,427   

Cigna Corp.

    698,150         43,543,615   

Johnson & Johnson

    468,000         38,156,040   

Medtronic, Inc.

    186,950         8,779,172   

Merck & Co., Inc.

    885,750         39,176,723   

Pfizer, Inc.

    1,278,650         36,901,839   
    

 

 

 
       195,199,816   
    

 

 

 
     Shares      Value($)  

Industrials 19.4%

    

ADT Corp. (The)

    104,500         5,114,230   

Caterpillar, Inc.

    305,300         26,551,941   

CSX Corp.

    957,700         23,588,151   

Cummins, Inc.

    264,700         30,654,907   

Emerson Electric Co.

    160,000         8,939,200   

Flowserve Corp.

    53,200         8,922,172   

Fluor Corp.

    293,600         19,474,488   

General Dynamics Corp.

    204,200         14,398,142   

General Electric Co.

    2,182,050         50,448,996   

Joy Global, Inc.

    449,600         26,760,192   

Pentair Ltd.

    246,400         12,997,600   

Republic Services, Inc.

    414,350         13,673,550   

Rockwell Automation, Inc.

    140,800         12,158,080   

Rockwell Collins, Inc.

    290,100         18,311,112   

Stanley Black & Decker, Inc.

    107,750         8,724,518   

United Parcel Service, Inc., Cl B

    325,550         27,964,745   

United Technologies Corp.

    328,150         30,659,054   
    

 

 

 
       339,341,078   
    

 

 

 

Information Technology 6.1%

    

Cisco Systems, Inc.

    1,418,350         29,657,698   

Microchip Technology, Inc.(a)

    398,600         14,652,536   

Microsoft Corp.

    942,400         26,962,064   

Motorola Solutions, Inc.

    77,450         4,959,124   

Texas Instruments, Inc.

    864,400         30,668,912   
    

 

 

 
       106,900,334   
    

 

 

 

Materials 2.8%

    

Air Products & Chemicals, Inc.

    193,950         16,896,924   

Ashland, Inc.

    221,150         16,431,445   

Celanese Corp., Cl A

    343,400         15,126,770   
    

 

 

 
       48,455,139   
    

 

 

 

Telecommunication Services 3.7%

  

  

AT&T, Inc.

    1,193,950         43,806,025   

Verizon Communications, Inc.

    441,150         21,682,523   
    

 

 

 
       65,488,548   
    

 

 

 

Utilities 3.0%

    

PG&E Corp.

    599,500         26,695,735   

PPL Corp.

    831,350         26,029,569   
    

 

 

 
       52,725,304   
    

 

 

 

Total Common Stocks
(Cost $1,350,919,322)

       1,713,945,319   
    

 

 

 

Short-Term Investment 0.2%

  

  

RidgeWorth Funds Securities Lending Joint Account(b)

    2,876,625         2,876,625   
    

 

 

 

Total Short-Term Investment
(Cost $2,876,625)

       2,876,625   
    

 

 

 
 

 

See Notes to Financial Statements.

 

46


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Large Cap Value Equity Fund — concluded

 

     Shares      Value($)  

Money Market Fund 1.8%

    

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(c)

    31,897,441         31,897,441   
    

 

 

 

Total Money Market Fund
(Cost $31,897,441)

       31,897,441   
    

 

 

 

Total Investments
(Cost $1,385,693,388) — 100.1%

   

     1,748,719,385   

Liabilities in excess of other assets — (0.1)%

       (2,213,931
    

 

 

 

Net Assets — 100.0%

     $ 1,746,505,454   
    

 

 

 

 

(a) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $2,818,450.

 

(b) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(h)).

 

(c) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

REIT     Real Estate Investment Trust
SP ADR     Sponsored American Depositary Receipt
 

 

See Notes to Financial Statements.

 

47


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Mid-Cap Value Equity Fund

 

     Shares      Value($)  
Common Stocks 95.1%     

Consumer Discretionary 6.5%

  

  

Coach, Inc.

    615,000         30,743,850   

Guess?, Inc.

    800,000         19,864,000   

Johnson Controls, Inc.

    1,925,000         67,509,750   

Wynn Resorts Ltd.

    460,000         57,573,600   
    

 

 

 
       175,691,200   
    

 

 

 

Consumer Staples 1.5%

    

ConAgra Foods, Inc.

    1,165,000         41,718,650   
    

 

 

 

Energy 11.5%

    

Baker Hughes, Inc.

    1,200,000         55,692,000   

CARBO Ceramics, Inc.(a)

    380,000         34,606,600   

Energy XXI Bermuda Ltd.

    1,000,000         27,220,000   

Noble Energy, Inc.

    235,000         27,180,100   

QEP Resources, Inc.

    2,075,000         66,068,000   

Seadrill Ltd.

    1,100,000         40,931,000   

Tidewater, Inc.

    1,170,000         59,085,000   
    

 

 

 
       310,782,700   
    

 

 

 

Financials 23.8%

    

American Campus Communities, Inc., REIT

    635,000         28,790,900   

American Capital Agency Corp., REIT

    900,000         29,502,000   

American Realty Capital Properties, Inc., REIT

    801,700         11,768,956   

Ameriprise Financial, Inc.

    630,000         46,399,500   

Aon PLC

    720,000         44,280,000   

BB&T Corp.

    1,355,000         42,533,450   

Boston Properties, Inc., REIT

    270,000         27,286,200   

Chubb Corp. (The)

    308,500         27,003,005   

Comerica, Inc.

    1,115,000         40,084,250   

Equity Residential, REIT

    750,000         41,295,000   

Hancock Holding Co.

    850,000         26,282,000   

Hanover Insurance Group, Inc. (The)

    600,000         29,808,000   

Hartford Financial Services Group, Inc. (The)

    1,975,000         50,955,000   

Invesco Ltd.

    1,715,000         49,666,400   

Lazard Ltd., Cl A

    1,630,000         55,631,900   

MB Financial, Inc.

    485,000         11,722,450   

Mid-America Apartment Communities, Inc., REIT

    299,600         20,690,376   

Progressive Corp. (The)

    750,000         18,952,500   

Regions Financial Corp.

    5,200,000         42,588,000   
    

 

 

 
       645,239,887   
    

 

 

 

Health Care 6.3%

    

Agilent Technologies, Inc.

    1,210,000         50,783,700   

Cigna Corp.

    1,250,000         77,962,500   

STERIS Corp.

    1,045,000         43,482,450   
    

 

 

 
       172,228,650   
    

 

 

 
     Shares      Value($)  

Industrials 19.1%

    

Con-way, Inc.

    225,000         7,922,250   

Crane Co.

    450,000         25,137,000   

CSX Corp.

    1,125,000         27,708,750   

Cummins, Inc.

    480,000         55,588,800   

Fluor Corp.

    505,000         33,496,650   

General Dynamics Corp.

    590,000         41,600,900   

Herman Miller, Inc.

    350,000         9,684,500   

Joy Global, Inc.

    1,375,000         81,840,000   

Kennametal, Inc.

    875,000         34,160,000   

Parker Hannifin Corp.

    140,000         12,821,200   

Pentair Ltd.

    250,000         13,187,500   

Republic Services, Inc.

    525,000         17,325,000   

Rockwell Automation, Inc.

    210,000         18,133,500   

Rockwell Collins, Inc.

    825,000         52,074,000   

SPX Corp.

    250,000         19,740,000   

Stanley Black & Decker, Inc.

    225,000         18,218,250   

Titan International, Inc.(a)

    965,000         20,342,200   

Towers Watson & Co., Cl A

    410,000         28,421,200   
    

 

 

 
       517,401,700   
    

 

 

 

Information Technology 7.2%

  

  

Harris Corp.

    735,000         34,059,900   

Intersil Corp., Cl A

    7,550,000         65,760,500   

Microchip Technology, Inc.(a)

    980,000         36,024,800   

Motorola Solutions, Inc.

    200,000         12,806,000   

SAIC, Inc.

    3,475,000         47,086,250   
    

 

 

 
       195,737,450   
    

 

 

 

Materials 10.6%

    

Allegheny Technologies, Inc.

    2,125,000         67,383,750   

Ashland, Inc.

    900,000         66,870,000   

Cabot Corp.

    2,050,000         70,110,000   

Celanese Corp., Cl A

    475,000         20,923,750   

Martin Marietta Materials, Inc.(a)

    280,000         28,565,600   

Scotts Miracle-Gro Co. (The), Cl A

    775,000         33,511,000   
    

 

 

 
       287,364,100   
    

 

 

 

Telecommunication Services 1.9%

  

  

CenturyLink, Inc.

    1,450,000         50,938,500   
    

 

 

 

Utilities 6.7%

    

American Water Works Co., Inc.

    750,000         31,080,000   

CenterPoint Energy, Inc.

    1,925,000         46,123,000   

NRG Energy, Inc.

    1,575,000         41,721,750   

PG&E Corp.

    1,115,000         49,650,950   

PPL Corp.

    450,000         14,089,500   
    

 

 

 
       182,665,200   
    

 

 

 

Total Common Stocks
(Cost $2,266,446,323)

       2,579,768,037   
    

 

 

 
 

 

See Notes to Financial Statements.

 

48


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Mid-Cap Value Equity Fund — concluded

 

     Shares      Value($)  

Short-Term Investment 1.8%

  

  

RidgeWorth Funds Securities Lending Joint Account(b)

    48,345,725         48,345,725   
    

 

 

 

Total Short-Term Investment
(Cost $48,345,725)

   

     48,345,725   
    

 

 

 

Money Market Fund 4.1%

  

  

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(c)

    112,247,598         112,247,598   
    

 

 

 

Total Money Market Fund
(Cost $112,247,598)

       112,247,598   
    

 

 

 

Total Investments
(Cost $2,427,039,646) — 101.0%

   

     2,740,361,360   

Liabilities in excess of other assets — (1.0)%

       (27,877,069
    

 

 

 

Net Assets — 100.0%

     $ 2,712,484,291   
    

 

 

 

 

(a) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $47,183,569.

 

(b) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(h)).

 

(c) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

REIT — Real Estate Investment Trust

 

 

See Notes to Financial Statements.

 

49


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Select Large Cap Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 98.0%     

Consumer Discretionary 15.7%

    

Amazon.com, Inc.*

    4,615         1,229,851   

Las Vegas Sands Corp.

    16,737         943,130   

Lowe’s Cos., Inc.

    22,041         835,795   

Macy’s, Inc.

    21,858         914,539   

Priceline.com, Inc.*

    1,246         857,161   

VF Corp.

    3,544         594,506   
    

 

 

 
       5,374,982   
    

 

 

 

Consumer Staples 8.7%

    

Estee Lauder Cos., Inc. (The), Cl A

    11,234         719,313   

Mead Johnson Nutrition Co.

    7,658         593,112   

Philip Morris International, Inc.

    11,299         1,047,531   

Whole Foods Market, Inc.

    7,123         617,920   
    

 

 

 
       2,977,876   
    

 

 

 

Energy 7.5%

    

Cameron International Corp.*

    14,350         935,620   

EOG Resources, Inc.

    6,996         895,978   

Halliburton Co.

    18,664         754,212   
    

 

 

 
       2,585,810   
    

 

 

 

Financials 5.5%

    

American Express Co.

    17,066         1,151,272   

Morgan Stanley

    33,078         727,055   
    

 

 

 
       1,878,327   
    

 

 

 

Health Care 18.3%

    

Agilent Technologies, Inc.

    14,436         605,879   

Alexion Pharmaceuticals, Inc.*

    10,433         961,297   

Allergan, Inc.

    5,507         614,746   

Biogen Idec, Inc.*

    6,960         1,342,654   

Catamaran Corp.*

    11,309         599,716   

Gilead Sciences, Inc.*

    20,870         1,021,169   

Intuitive Surgical, Inc.*

    1,485         729,417   

Mylan, Inc.*

    13,452         389,301   
    

 

 

 
       6,264,179   
    

 

 

 

Industrials 12.2%

    

Cummins, Inc.

    5,866         679,342   

Fluor Corp.

    13,251         878,939   

Precision Castparts Corp.

    4,176         791,853   

United Parcel Service, Inc., Cl B

    8,906         765,025   

W.W. Grainger, Inc.

    4,693         1,055,831   
    

 

 

 
       4,170,990   
    

 

 

 

Information Technology 28.1%

    

Analog Devices, Inc.

    14,622         679,777   

Apple, Inc.

    3,988         1,765,208   
     Shares      Value($)  

Information Technology—continued

  

  

ARM Holdings PLC SP ADR

    14,174         600,552   

ASML Holding NV NYS(a)

    7,393         502,798   

eBay, Inc.*

    8,327         451,490   

F5 Networks, Inc.*

    6,303         561,471   

Google, Inc., Cl A*

    2,319         1,841,356   

QUALCOMM, Inc.

    18,110         1,212,465   

Teradata Corp.*

    8,375         490,021   

Visa, Inc., Cl A

    8,987         1,526,352   
    

 

 

 
       9,631,490   
    

 

 

 

Materials 2.0%

    

Monsanto Co.

    6,591         696,207   
    

 

 

 

Total Common Stocks
(Cost $26,018,778)

       33,579,861   
    

 

 

 

Short-Term Investment 0.8%

    

RidgeWorth Funds Securities Lending Joint Account(b)

    257,450         257,450   
    

 

 

 

Total Short-Term Investment
(Cost $257,450)

       257,450   
    

 

 

 

Money Market Fund 4.4%

    

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(c)

    1,504,823         1,504,823   
    

 

 

 

Total Money Market Fund
(Cost $1,504,823)

       1,504,823   
    

 

 

 

Total Investments
(Cost $27,781,051) — 103.2%

       35,342,134   

Liabilities in excess of other assets —(3.2)%

       (1,088,946
    

 

 

 

Net Assets — 100.0%

     $ 34,253,188   
    

 

 

 

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $251,788.

 

(b) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(h)).

 

(c) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

NYS     New York Registered Shares
SP ADR     Sponsored American Depositary Receipt
 

 

See Notes to Financial Statements.

 

50


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Small Cap Growth Stock Fund

 

     Shares      Value($)  
Common Stocks 98.2%     

Consumer Discretionary 15.1%

    

Asbury Automotive Group, Inc.*

    36,930         1,354,962   

Belo Corp., Cl A

    104,198         1,024,266   

Body Central Corp.*

    63,701         598,789   

Buffalo Wild Wings, Inc.*

    24,228         2,120,677   

Chico’s FAS, Inc.

    55,453         931,610   

Coinstar, Inc.*(a)

    22,319         1,303,876   

Domino’s Pizza, Inc.

    26,189         1,347,162   

Express, Inc.*

    53,349         950,146   

G-III Apparel Group Ltd.*

    21,038         843,834   

Hibbett Sports, Inc.*

    28,663         1,612,867   

HomeAway, Inc.*

    22,960         746,200   

HSN, Inc.

    20,930         1,148,220   

KB Home(a)

    72,621         1,580,959   

Lions Gate Entertainment Corp.*(a)

    84,847         2,016,813   

Modine Manufacturing Co.*

    78,626         715,497   

Multimedia Games Holding Co., Inc.*

    89,139         1,860,331   

Ryland Group, Inc. (The)

    40,447         1,683,404   

Standard Pacific Corp.*(a)

    151,265         1,306,930   

Steven Madden Ltd.*

    39,928         1,722,494   

Vitamin Shoppe, Inc.*

    16,924         826,737   
    

 

 

 
       25,695,774   
    

 

 

 

Consumer Staples 2.7%

    

Hain Celestial Group, Inc. (The)*

    29,877         1,824,887   

Nu Skin Enterprises, Inc., Cl A

    25,557         1,129,620   

United Natural Foods, Inc.*

    34,281         1,686,625   
    

 

 

 
       4,641,132   
    

 

 

 

Energy 6.7%

    

Basic Energy Services, Inc.*(a)

    104,524         1,428,843   

Gulfport Energy Corp.*

    42,061         1,927,656   

Halcon Resources Corp.*

    170,770         1,330,298   

Hornbeck Offshore Services, Inc.*

    30,487         1,416,426   

Kodiak Oil & Gas Corp.*

    222,121         2,019,080   

Lufkin Industries, Inc.

    29,846         1,981,476   

Mitcham Industries, Inc.*

    51,956         879,096   

Stone Energy Corp.*

    19,895         432,716   
    

 

 

 
       11,415,591   
    

 

 

 

Financials 9.2%

    

Cardtronics, Inc.*

    48,679         1,336,725   

Cathay General Bancorp

    101,848         2,049,182   

Encore Capital Group, Inc.*

    68,059         2,048,576   

MB Financial, Inc.

    70,225         1,697,338   

Portfolio Recovery Associates, Inc.*

    20,552         2,608,460   

Radian Group, Inc.(a)

    131,455         1,407,883   

Stifel Financial Corp.*

    55,068         1,909,207   

World Acceptance Corp.*(a)

    28,701         2,464,555   
    

 

 

 
       15,521,926   
    

 

 

 
     Shares      Value($)  

Health Care 18.0%

    

ABIOMED, Inc.*(a)

    58,477         1,091,766   

Acadia Healthcare Co., Inc.*

    67,274         1,977,183   

Air Methods Corp.

    31,771         1,532,633   

Align Technology, Inc.*

    35,488         1,189,203   

AVANIR Pharmaceuticals, Inc.*(a)

    257,668         706,010   

Cubist Pharmaceuticals, Inc.*

    44,299         2,074,079   

Endologix, Inc.*

    98,246         1,586,673   

Exelixis, Inc.*(a)

    171,637         792,963   

HealthSouth Corp.*

    52,885         1,394,577   

HeartWare International, Inc.*(a)

    13,940         1,232,714   

HMS Holdings Corp.*

    66,364         1,801,783   

ICON PLC*

    46,464         1,500,323   

Impax Laboratories, Inc.*

    63,120         974,573   

LifePoint Hospitals, Inc.*

    18,163         880,179   

Medicines Co. (The)*

    51,121         1,708,464   

Medidata Solutions, Inc.*

    31,772         1,842,141   

Neogen Corp.*

    19,487         965,971   

NPS Pharmaceuticals, Inc.*

    118,171         1,204,162   

NuVasive, Inc.*

    46,381         988,379   

Questcor Pharmaceuticals, Inc.(a)

    40,228         1,309,019   

Seattle Genetics, Inc.*(a)

    31,340         1,112,883   

Team Health Holdings, Inc.*

    48,359         1,759,300   

Vocera Communications, Inc.*

    41,197         947,531   
    

 

 

 
       30,572,509   
    

 

 

 

Industrials 17.5%

    

AAR Corp.

    45,254         832,221   

Acacia Research—Acacia Technologies*

    43,597         1,315,321   

Alaska Air Group, Inc.*

    25,559         1,634,754   

Corporate Executive Board Co. (The)

    23,263         1,352,976   

H&E Equipment Services, Inc.

    86,806         1,770,842   

Hexcel Corp.*

    61,785         1,792,383   

Hub Group, Inc., Cl A*

    37,752         1,451,942   

InnerWorkings, Inc.*(a)

    114,913         1,739,783   

Kforce, Inc.

    98,583         1,613,804   

MasTec, Inc.*

    24,703         720,092   

Mistras Group, Inc.*

    29,252         708,191   

Mueller Water Products, Inc., Cl A

    159,259         944,406   

MYR Group, Inc.*

    56,386         1,384,840   

Polypore International, Inc.*(a)

    17,461         701,583   

Powell Industries, Inc.*

    16,942         890,641   

Ryder System, Inc.

    17,102         1,021,844   

Simpson Manufacturing Co., Inc.

    19,687         602,619   

Terex Corp.*

    26,472         911,166   

Titan Machinery, Inc.*(a)

    52,077         1,445,137   

Trimas Corp.*

    27,382         889,094   
 

 

See Notes to Financial Statements.

 

51


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Small Cap Growth Stock Fund — concluded

 

     Shares      Value($)  

Industrials—continued

    

Triumph Group, Inc.

    10,875         853,688   

TrueBlue, Inc.*

    81,137         1,715,236   

US Airways Group, Inc.*(a)

    61,273         1,039,803   

Valmont Industries, Inc.

    7,033         1,106,080   

Woodward, Inc.

    29,848         1,186,756   
    

 

 

 
       29,625,202   
    

 

 

 

Information Technology 24.1%

    

Aruba Networks, Inc.*(a)

    96,013         2,375,362   

Aspen Technology, Inc.*

    65,410         2,112,089   

Bottomline Technologies, Inc.*

    53,182         1,516,219   

BroadSoft, Inc.*(a)

    49,988         1,323,182   

Cirrus Logic, Inc.*

    60,502         1,376,421   

CommVault Systems, Inc.*

    26,498         2,172,306   

Cornerstone OnDemand, Inc.*

    39,029         1,330,889   

Euronet Worldwide, Inc.*

    102,694         2,704,960   

ExactTarget, Inc.*

    67,341         1,567,025   

Heartland Payment Systems, Inc.

    79,456         2,619,664   

Infoblox, Inc.*

    64,659         1,403,100   

Ixia*

    38,889         841,558   

Jive Software, Inc.*(a)

    99,684         1,515,197   

NETGEAR, Inc.*

    49,429         1,656,366   

OpenTable, Inc.*

    27,083         1,705,687   

Procera Networks, Inc.*

    56,365         670,180   

PROS Holdings, Inc.*

    53,400         1,450,878   

QLIK Technologies, Inc.*

    99,938         2,581,399   

Semtech Corp.*

    90,805         3,213,589   

Sourcefire, Inc.*

    26,274         1,556,209   

Stratasys Ltd.*(a)

    14,819         1,099,866   

Tangoe, Inc.*

    72,547         898,857   

Ultimate Software Group, Inc.*

    21,940         2,285,270   

Universal Display Corp.*(a)

    27,862         818,864   
    

 

 

 
       40,795,137   
    

 

 

 

Materials 3.0%

    

Flotek Industries, Inc.*(a)

    108,883         1,780,237   

Haynes International, Inc.

    25,590         1,415,127   

Headwaters, Inc.*

    81,176         884,819   

LSB Industries, Inc.*

    28,908         1,005,420   
    

 

 

 
       5,085,603   
    

 

 

 
     Shares      Value($)  

Telecommunication Services 1.9%

  

8x8, Inc.*(a)

    204,587         1,401,421   

Cogent Communications Group, Inc.

    69,290         1,829,256   
    

 

 

 
       3,230,677   
    

 

 

 

Total Common Stocks (Cost $125,472,419)

       166,583,551   
    

 

 

 

Short-Term Investment 11.1%

    

RidgeWorth Funds Securities Lending Joint Account(b)

    18,787,977         18,787,977   
    

 

 

 

Total Short-Term Investment (Cost $18,787,977)

       18,787,977   
    

 

 

 

Money Market Fund 0.4%

    

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(c)

    784,973         784,973   
    

 

 

 

Total Money Market Fund (Cost $784,973)

       784,973   
    

 

 

 

Total Investments (Cost $145,045,369) — 109.7%

       186,156,501   

Liabilities in excess of other
assets — (9.7)%

       (16,499,471
    

 

 

 

Net Assets — 100.0%

     $ 169,657,030   
    

 

 

 

 

* Non-income producing security.

 

(a) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $18,271,783.

 

(b) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(h)).

 

(c) Rate disclosed, the 7 day net yield, is as of March 31, 2013.
 

 

See Notes to Financial Statements.

 

52


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Small Cap Value Equity Fund

 

     Shares      Value($)  
Common Stocks 99.1%     

Consumer Discretionary 19.5%

    

Arcos Dorados Holdings, Inc., Cl A

    2,540,000         33,528,000   

Brunswick Corp.

    651,600         22,297,752   

Destination Maternity Corp.

    170,029         3,978,679   

Einstein Noah Restaurant Group, Inc.

    197,400         2,927,442   

Guess?, Inc.

    1,774,754         44,067,142   

HSN, Inc.

    1,030,300         56,522,258   

Lithia Motors, Inc., Cl A

    358,100         17,002,588   

Meredith Corp.

    773,000         29,574,980   

NutriSystem, Inc.

    761,150         6,454,552   

Oxford Industries, Inc.

    15,141         803,987   

Scholastic Corp.

    739,000         19,694,350   

Sonic Automotive, Inc., Cl A

    816,100         18,084,776   

Sotheby’s

    1,145,500         42,853,155   

Thor Industries, Inc.

    527,300         19,399,367   
    

 

 

 
       317,189,028   
    

 

 

 

Consumer Staples 4.2%

    

Casey’s General Stores, Inc.

    232,200         13,537,260   

Harris Teeter Supermarkets, Inc.

    595,700         25,442,347   

WD-40 Co.

    532,550         29,167,764   
    

 

 

 
       68,147,371   
    

 

 

 

Energy 7.5%

    

Berry Petroleum Co., Cl A

    321,200         14,868,348   

Bristow Group, Inc.

    601,900         39,689,286   

CARBO Ceramics, Inc.

    468,700         42,684,509   

Patterson-UTI Energy, Inc.

    1,061,100         25,296,624   
    

 

 

 
       122,538,767   
    

 

 

 

Financials 22.2%

    

Banco Latinoamericano de Expectaciones SA, Cl E

    259,050         6,408,897   

Bank of Hawaii Corp.

    105,400         5,355,374   

Campus Crest Communities, Inc. REIT

    766,300         10,651,570   

Cash America International, Inc.

    973,150         51,061,180   

Evercore Partners, Inc., Cl A

    571,350         23,768,160   

Hancock Holding Co.

    723,174         22,360,540   

Hanover Insurance Group, Inc. (The)

    720,750         35,806,860   

HCC Insurance Holdings, Inc.

    1,116,400         46,922,292   

Horace Mann Educators Corp.

    559,900         11,673,915   

JMP Group, Inc.

    582,300         4,023,693   

Mid-America Apartment Communities, Inc., REIT

    155,200         10,718,112   

Monmouth Real Estate Investment Corp., Cl A REIT

    111,000         1,237,650   

National Retail Properties, Inc. REIT

    469,150         16,969,156   
     Shares      Value($)  

Financials—continued

    

Oppenheimer Holdings, Inc., Cl A

    196,100         3,818,067   

Protective Life Corp.

    577,100         20,660,180   

StanCorp Financial Group, Inc.

    1,015,800         43,435,608   

Starwood Property Trust, Inc., REIT

    491,100         13,632,936   

Tower Group International Ltd.

    320,242         5,908,465   

Trust Co Bank Corp. NY

    411,000         2,293,380   

UMB Financial Corp.

    482,350         23,668,914   
    

 

 

 
       360,374,949   
    

 

 

 

Health Care 4.4%

    

Ensign Group, Inc.

    323,700         10,811,580   

Landauer, Inc.

    197,000         11,106,860   

STERIS Corp.

    626,357         26,062,715   

Teleflex, Inc.

    287,100         24,262,821   
    

 

 

 
       72,243,976   
    

 

 

 

Industrials 27.6%

    

A.O. Smith Corp.

    1,047,275         77,048,022   

ABM Industries, Inc.

    613,000         13,633,120   

Barnes Group, Inc.

    149,100         4,313,463   

China Yuchai International Ltd.

    132,600         2,120,274   

CLARCOR, Inc.

    492,200         25,781,436   

Corrections Corp. of America

    481,100         18,796,577   

EMCOR Group, Inc.

    394,400         16,718,616   

Great Lakes Dredge & Dock Corp.

    888,400         5,978,932   

Grupo Aeroportuario del Pacifico SA de CV SP ADR

    261,476         15,325,108   

Grupo Aeroportuario del Sureste SAB de CV ADR

    59,300         8,104,531   

Harsco Corp.

    485,200         12,018,404   

Herman Miller, Inc.

    894,300         24,745,281   

Interface, Inc.

    2,348,771         45,143,379   

Kennametal, Inc.

    175,400         6,847,616   

Knoll, Inc.

    803,500         14,567,455   

Lennox International, Inc.

    582,800         37,001,972   

Mine Safety Appliances Co.

    427,300         21,202,626   

Progressive Waste Solutions Ltd.

    1,950,424         41,251,467   

Ritchie Bros Auctioneers, Inc.

    465,800         10,107,860   

Ryder System, Inc.

    44,000         2,629,000   

Sun Hydraulics Corp.

    91,400         2,971,414   

Tennant Co.

    153,800         7,468,528   

Titan International, Inc.

    950,500         20,036,540   

Viad Corp.

    523,000         14,466,180   
    

 

 

 
       448,277,801   
    

 

 

 

Information Technology 6.1%

    

Black Box Corp.

    251,350         5,481,944   

Booz Allen Hamilton Holding Corp.

    472,800         6,354,432   
 

 

See Notes to Financial Statements.

 

53


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Small Cap Value Equity Fund — concluded

 

     Shares      Value($)  

Information Technology—continued

  

DST Systems, Inc.

    147,800         10,533,706   

FEI Co.

    344,400         22,231,020   

FLIR Systems, Inc.

    1,058,900         27,541,989   

Plantronics, Inc.

    621,350         27,457,456   
    

 

 

 
       99,600,547   
    

 

 

 

Materials 6.9%

    

A. Schulman, Inc.

    473,300         14,937,348   

Buckeye Technologies, Inc.

    387,300         11,599,635   

Cabot Corp.

    818,100         27,979,020   

Carpenter Technology Corp.

    356,400         17,566,956   

Compass Minerals International, Inc.

    127,300         10,043,970   

Globe Specialty Metals, Inc.

    648,700         9,029,904   

Haynes International, Inc.

    165,900         9,174,270   

Olin Corp.

    494,100         12,461,202   
    

 

 

 
       112,792,305   
    

 

 

 

Utilities 0.7%

    

Avista Corp.

    60,550         1,659,070   

California Water Service Group

    442,400         8,803,760   
    

 

 

 
       10,462,830   
    

 

 

 

Total Common Stocks
(Cost $1,283,811,011)

       1,611,627,574   
    

 

 

 
     Shares      Value($)  

Money Market Fund 0.9%

    

State Street Institutional Liquid Reserves Fund, Institutional Class, 0.13%(a)

    14,870,383         14,870,383   
    

 

 

 

Total Money Market Fund
(Cost $14,870,383)

       14,870,383   
    

 

 

 

Total Investments
(Cost $1,298,681,394) — 100.0%

   

     1,626,497,957   

Liabilities in excess of other assets — (0.0)%(b)

       (577,244
    

 

 

 

Net Assets — 100.0%

     $ 1,625,920,713   
    

 

 

 

 

(a) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

 

(b) Less than 0.05% of Net Assets.

Investment Abbreviations

 

ADR     American Depositary Receipt
REIT     Real Estate Investment Trust
SP ADR     Sponsored American Depositary Receipt
 

 

See Notes to Financial Statements.

 

54


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Aggressive Growth Allocation Strategy

 

     Shares      Value($)  
Equity Funds 68.6%(a)     

RidgeWorth Aggressive Growth Stock Fund*

    2,828         44,110   

RidgeWorth International Equity Fund

    118,661         1,381,209   

RidgeWorth International Equity Index Fund

    2,272         27,354   

RidgeWorth Large Cap Growth Stock Fund

    554,025         4,603,948   

RidgeWorth Large Cap Value Equity Fund

    303,311         4,780,176   

RidgeWorth Mid-Cap Value Equity Fund

    150,309         1,963,033   

RidgeWorth Select Large Cap Growth Stock Fund*

    58,949         1,586,308   

RidgeWorth Small Cap Growth Stock Fund*

    52,549         822,910   

RidgeWorth Small Cap Value Equity Fund

    53,752         830,471   
    

 

 

 

Total Equity Funds
(Cost $13,736,073)

       16,039,519   
    

 

 

 

Fixed Income Funds 16.1%(a)

    

RidgeWorth Corporate Bond Fund

    848         7,886   

RidgeWorth High Income Fund

    35,463         259,590   

RidgeWorth Intermediate Bond Fund

    15,418         158,960   

RidgeWorth Seix Floating Rate High Income Fund

    17,638         159,802   

RidgeWorth Seix High Yield Fund

    26,407         270,932   

RidgeWorth Total Return Bond Fund

    253,200         2,732,023   

RidgeWorth U.S. Government Securities Ultra-Short Bond Fund

    18,000         183,062   
    

 

 

 

Total Fixed Income Funds
(Cost $3,793,948)

       3,772,255   
    

 

 

 

Exchange Traded Funds 14.4%

    

Consumer Discretionary Select Sector SPDR Fund

    1,181         62,546   

Consumer Staples Select Sector SPDR Fund

    1,015         40,356   

Energy Select Sector SPDR Fund

    891         70,674   

Financial Select Sector SPDR Fund

    4,619         84,020   

Health Care Select Sector SPDR Fund

    1,761         80,918   
     Shares      Value($)  

Exchange Traded Funds—continued

  

  

Industrial Select Sector SPDR Fund

    1,500         62,595   

iShares Barclays 20+ Year Treasury Bond Fund

    1,163         136,955   

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

    29         3,516   

iShares Dow Jones U.S. Real Estate Index Fund

    5,299         368,174   

iShares MSCI Emerging Markets Index Fund

    10,788         461,511   

iShares Russell 2000 Index Fund

    311         29,315   

iShares Core S&P 500 Fund

    10,326         1,624,589   

Market Vectors Gold Miners Fund

    5,140         194,549   

Materials Select Sector SPDR Fund

    571         22,372   

Technology Select Sector SPDR Fund

    4,132         125,076   

Utilities Select Sector SPDR Fund

    116         4,530   
    

 

 

 

Total Exchange Traded Funds
(Cost $2,899,896)

       3,371,696   
    

 

 

 

Money Market Fund 1.1%

    

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(b)

    256,581         256,581   

Total Money Market Fund
(Cost $256,581)

       256,581   
    

 

 

 

Total Investments
(Cost $20,686,498) — 100.2%

       23,440,051   

Liabilities in excess of other
assets — (0.2)%

       (48,966
    

 

 

 

Net Assets — 100.0%

     $ 23,391,085   
    

 

 

 

 

* Non-income producing security.

 

(a) Affiliated investment. Investment is in each Fund’s I Shares.

 

(b) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

MSCI     Morgan Stanley Capital International
SPDR     Standard & Poor’s Depositary Receipt
 

 

See Notes to Financial Statements.

 

55


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Conservative Allocation Strategy

 

     Shares      Value($)  

Equity Funds 27.1%(a)

    

RidgeWorth Aggressive Growth Stock Fund*

    2,596         40,493   

RidgeWorth International Equity Fund

    115,672         1,346,426   

RidgeWorth International Equity Index Fund

    3,727         44,872   

RidgeWorth Large Cap Growth Stock Fund

    580,122         4,820,812   

RidgeWorth Large Cap Value Equity Fund

    308,743         4,865,788   

RidgeWorth Mid-Cap Value Equity Fund

    150,552         1,966,211   

RidgeWorth Select Large Cap Growth Stock Fund*

    53,272         1,433,559   

RidgeWorth Small Cap Growth Stock Fund*

    52,478         821,805   

RidgeWorth Small Cap Value Equity Fund

    53,578         827,775   
    

 

 

 

Total Equity Funds
(Cost $15,043,029)

       16,167,741   
    

 

 

 

Fixed Income Funds 64.4%(a)

    

RidgeWorth Corporate Bond Fund

    9,381         87,240   

RidgeWorth High Income Fund

    322,284         2,359,120   

RidgeWorth Intermediate Bond Fund

    151,145         1,558,300   

RidgeWorth Seix Floating Rate High Income Fund

    179,449         1,625,811   

RidgeWorth Seix High Yield Fund

    256,212         2,628,730   

RidgeWorth Total Return Bond Fund

    2,604,637         28,104,035   

RidgeWorth U.S. Government Securities Ultra-Short Bond Fund

    207,684         2,112,151   
    

 

 

 

Total Fixed Income Funds
(Cost $37,935,894)

       38,475,387   
    

 

 

 

Exchange Traded Funds 7.7%

    

Consumer Discretionary Select Sector SPDR Fund

    953         50,471   

Consumer Staples Select Sector SPDR Fund

    823         32,722   

Energy Select Sector SPDR Fund

    746         59,173   

Financial Select Sector SPDR Fund

    3,907         71,068   

Health Care Select Sector SPDR Fund

    1,481         68,052   
     Shares      Value($)  

Exchange Traded Funds—continued

  

  

Industrial Select Sector SPDR Fund

    1,227         51,203   

iShares Barclays 20+ Year Treasury Bond Fund

    12,247         1,442,207   

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

    309         37,466   

iShares Dow Jones U.S. Real Estate Index Fund

    5,439         377,902   

iShares MSCI Emerging Markets Index Fund

    11,641         498,002   

iShares Russell 2000 Index Fund

    528         49,769   

iShares Core S&P 500 Fund

    9,826         1,545,924   

Market Vectors Gold Miners Fund

    5,207         197,085   

Materials Select Sector SPDR Fund

    456         17,866   

Technology Select Sector SPDR Fund

    3,495         105,794   

Utilities Select Sector SPDR Fund

    133         5,194   
    

 

 

 

Total Exchange Traded Funds
(Cost $4,098,289)

       4,609,898   
    

 

 

 

Money Market Fund 0.9%

    

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(b)

    551,274         551,274   
    

 

 

 

Total Money Market Fund
(Cost $551,274)

       551,274   
    

 

 

 

Total Investments
(Cost $57,628,486) — 100.1%

       59,804,300   

Liabilities in excess of other
assets — (0.1)%

       (66,849
    

 

 

 

Net Assets — 100.0%

     $ 59,737,451   
    

 

 

 

 

* Non-income producing security.

 

(a) Affiliated investment. Investment is in each Fund’s I Shares.

 

(b) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

MSCI     Morgan Stanley Capital International
SPDR     Standard & Poor’s Depositary Receipt
 

 

See Notes to Financial Statements.

 

56


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Growth Allocation Strategy

 

     Shares      Value($)  

Equity Funds 60.5%(a)

    

RidgeWorth Aggressive Growth Stock Fund*

    5,072         79,121   

RidgeWorth International Equity Fund

    303,884         3,537,211   

RidgeWorth International Equity Index Fund

    3,790         45,629   

RidgeWorth Large Cap Growth Stock Fund

    1,376,930         11,442,285   

RidgeWorth Large Cap Value Equity Fund

    774,279         12,202,644   

RidgeWorth Mid-Cap Value Equity Fund

    378,910         4,948,568   

RidgeWorth Select Large Cap Growth Stock Fund*

    148,432         3,994,315   

RidgeWorth Small Cap Growth Stock Fund*

    131,660         2,061,798   

RidgeWorth Small Cap Value Equity Fund

    134,781         2,082,360   
    

 

 

 

Total Equity Funds (Cost $34,550,812)

       40,393,931   
    

 

 

 

Fixed Income Funds 25.8%(a)

    

RidgeWorth Corporate Bond Fund

    3,934         36,587   

RidgeWorth High Income Fund

    188,708         1,381,342   

RidgeWorth Intermediate Bond Fund

    66,503         685,642   

RidgeWorth Seix Floating Rate High Income Fund

    79,556         720,775   

RidgeWorth Seix High Yield Fund

    137,247         1,408,156   

RidgeWorth Total Return Bond Fund

    1,149,972         12,408,201   

RidgeWorth U.S. Government Securities Ultra-Short Bond Fund

    59,269         602,763   
    

 

 

 

Total Fixed Income Funds (Cost $16,532,592)

       17,243,466   
    

 

 

 

Exchange Traded Funds 12.8%

    

Consumer Discretionary Select Sector SPDR Fund

    3,513         186,049   

Consumer Staples Select Sector SPDR Fund

    3,208         127,550   

Energy Select Sector SPDR Fund

    2,766         219,399   

Financial Select Sector SPDR Fund

    14,521         264,137   

Health Care Select Sector SPDR Fund

    5,560         255,482   
     Shares      Value($)  

Exchange Traded Funds—continued

  

  

Industrial Select Sector SPDR Fund

    4,662         194,545   

iShares Barclays 20+ Year Treasury Bond Fund

    4,524         532,746   

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

    352         42,680   

iShares Dow Jones U.S. Real Estate Index Fund

    13,757         955,836   

iShares MSCI Emerging Markets Index Fund

    27,081         1,158,525   

iShares Russell 2000 Index Fund

    1,309         123,386   

iShares Core S&P 500 Fund

    22,392         3,522,933   

Market Vectors Gold Miners Fund

    12,940         489,779   

Materials Select Sector SPDR Fund

    1,615         63,276   

Technology Select Sector SPDR Fund

    12,931         391,422   

Utilities Select Sector SPDR Fund

    469         18,315   
    

 

 

 

Total Exchange Traded Funds (Cost $7,396,476)

       8,546,060   
    

 

 

 

Money Market Fund 1.0%

    

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(b)

    714,276         714,276   
    

 

 

 

Total Money Market Fund (Cost $714,276)

       714,276   
    

 

 

 

Total Investments
(Cost $59,194,156) — 100.1%

       66,897,733   

Liabilities in excess of other
assets — (0.1)%

       (98,321
    

 

 

 

Net Assets — 100.0%

     $ 66,799,412   
    

 

 

 

 

* Non-income producing security.

 

(a) Affiliated investment. Investment is in each Fund’s I Shares.

 

(b) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

MSCI     Morgan Stanley Capital International
SPDR     Standard & Poor’s Depositary Receipt
 

 

See Notes to Financial Statements.

 

57


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Moderate Allocation Strategy

 

     Shares      Value($)  
Equity Funds 44.1%(a)     

RidgeWorth International Equity Fund

    555,833         6,469,892   

RidgeWorth International Equity Index Fund

    18,046         217,272   

RidgeWorth Large Cap Growth Stock Fund

    2,626,241         21,824,059   

RidgeWorth Large Cap Value Equity Fund

    1,480,871         23,338,522   

RidgeWorth Mid-Cap Value Equity Fund

    727,258         9,497,992   

RidgeWorth Select Large Cap Growth Stock Fund*

    275,025         7,400,915   

RidgeWorth Small Cap Growth Stock Fund*

    246,656         3,862,625   

RidgeWorth Small Cap Value Equity Fund

    252,549         3,901,875   
    

 

 

 

Total Equity Funds
(Cost $67,414,853)

       76,513,152   
    

 

 

 

Fixed Income Funds 44.8%(a)

    

RidgeWorth Corporate Bond Fund

    19,956         185,588   

RidgeWorth High Income Fund

    816,510         5,976,854   

RidgeWorth Intermediate Bond Fund

    129,271         1,332,785   

RidgeWorth Seix Floating Rate High Income Fund

    362,831         3,287,250   

RidgeWorth Seix High Yield Fund

    579,165         5,942,234   

RidgeWorth Total Return Bond Fund

    5,397,450         58,238,486   

RidgeWorth U.S. Government Securities Ultra-Short Bond Fund

    281,047         2,858,252   
    

 

 

 

Total Fixed Income Funds
(Cost $74,830,600)

       77,821,449   
    

 

 

 

Exchange Traded Funds 10.2%

    

Consumer Discretionary Select Sector SPDR Fund

    4,850         256,856   

Consumer Staples Select Sector SPDR Fund

    4,368         173,672   

Energy Select Sector SPDR Fund

    3,922         311,093   

Financial Select Sector SPDR Fund

    20,417         371,385   

Health Care Select Sector SPDR Fund

    7,729         355,148   
     Shares      Value($)  

Exchange Traded Funds—continued

  

  

Industrial Select Sector SPDR Fund

    6,535         272,706   

iShares Barclays 20+ Year Treasury Bond Fund

    20,809         2,450,468   

iShares Barclays U.S. Treasury Inflation Protected Securities Fund

    1,274         154,472   

iShares Dow Jones U.S. Real Estate Index Fund

    25,995         1,806,133   

iShares MSCI Emerging Markets Index Fund

    53,535         2,290,227   

iShares Russell 2000 Index Fund

    3,194         301,066   

iShares Core S&P 500 Fund

    46,835         7,368,550   

Market Vectors Gold Miners Fund

    24,968         945,039   

Materials Select Sector SPDR Fund

    2,509         98,303   

Technology Select Sector SPDR Fund

    18,260         552,730   

Utilities Select Sector SPDR Fund

    517         20,189   
    

 

 

 

Total Exchange Traded Funds
(Cost $15,248,380)

       17,728,037   
    

 

 

 

Money Market Fund 1.1%

    

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(b)

    1,864,534         1,864,534   
    

 

 

 

Total Money Market Fund
(Cost $1,864,534)

       1,864,534   
    

 

 

 

Total Investments
(Cost $159,358,367) — 100.2%

       173,927,172   

Liabilities in excess of other
assets — (0.2)%

       (286,510
    

 

 

 

Net Assets — 100.0%

     $ 173,640,662   
    

 

 

 

 

* Non-income producing security.

 

(a) Affiliated investment. Investment is in each Fund’s I Shares.

 

(b) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

MSCI     Morgan Stanley Capital International
SPDR     Standard & Poor’s Depositary Receipt
 

 

See Notes to Financial Statements.

 

58


STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Aggressive
Growth Stock
Fund
    International
Equity Fund
    International
Equity
Index Fund
    Large Cap
Growth Stock
Fund
    Large Cap Value
Equity Fund
 

Assets:

          

Total Investments, at Cost

     $8,989,909        $242,202,536        $140,027,375        $187,955,468        $1,385,693,388   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments, at Value*

     $19,479,425        $284,148,373        $234,412,170        $257,677,190        $1,748,719,385   

Cash

                          28,233        176,039   

Dividends Receivable

     1,888        1,176,342        742,997        137,475        3,174,620   

Securities Lending Income Receivable

            32,036        9,150        994        437   

Foreign Currency, at Value (Cost $—, $3,018,670, $90,309, $— and $—, respectively)

            3,025,803        90,344                 

Receivable for Capital Shares Issued

     19,822        10,367        45,584        50,990        1,341,546   

Receivable for Investment Securities Sold

     247,775        781,551        217,128        1,282,001          

Reclaims Receivable

            169,138        143,450                 

Receivable from Investment Adviser

                   70,056        6,604          

Prepaid Expenses and Other Assets

     13,878        17,957        16,969        81,458        45,097   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

     19,762,788        289,361,567        235,747,848        259,264,945        1,753,457,124   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Liabilities:

          

Payable for Investment Securities Purchased

     79,992        1,257,239               1,547,061          

Payable for Capital Shares Redeemed

     215,683        428,529        91,240        195,021        2,187,793   

Payable Upon Return of Securities Loaned

            10,253,825        9,873,673        1,226,275        2,876,625   

Investment Advisory Fees Payable

     14,130        214,780        87,668        132,404        1,003,106   

Compliance and Fund Services Fees Payable

     1,137        4,807        4,982        5,135        30,705   

Distribution and Service Fees Payable

     909        1,206        672        41,112        86,455   

Other Accrued Expenses

     31,146        83,827        229,660        95,799        766,986   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Liabilities

     342,997        12,244,213        10,287,895        3,242,807        6,951,670   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Net Assets

     $19,419,791        $277,117,354        $225,459,953        $256,022,138        $1,746,505,454   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets Consist of:

          

Capital

     $12,574,997        $529,038,550        $120,648,942        $174,831,478        $1,308,429,205   

Accumulated Net Investment Income (Loss)

     (95,143     1,158,581        (1,530,587     7,574        5,925,183   

Accumulated Net Realized Gain (Loss) from Investments and Foreign Currency Transactions

     (3,549,579     (295,043,044     11,961,911        11,461,364        69,125,069   

Net Unrealized Appreciation on Investments and Foreign Currencies

     10,489,516        41,963,267        94,379,687        69,721,722        363,025,997   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets

     $19,419,791        $277,117,354        $225,459,953        $256,022,138        $1,746,505,454   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

          

I Shares

     $15,839,912        $272,552,198        $222,839,031        $167,886,606        $1,442,154,365   

A Shares

     3,579,879        4,565,156        2,620,922        56,510,759        287,956,799   

C Shares

                          31,624,773        16,394,290   

Shares Outstanding (unlimited number of shares authorized, no par value)

          

I Shares

     1,015,151        23,424,031        18,514,224        20,209,072        91,535,832   

A Shares

     236,204        396,676        219,510        7,775,253        18,375,562   

C Shares

                          5,540,033        1,063,051   

Net Asset Value and Redemption Price Per Share:

          

I Shares

     $15.60        $11.64        $12.04        $8.31        $15.76   

A Shares

     15.16        11.51        11.94        7.27        15.67   

C Shares(a)

                          5.71        15.42   

Offering Price Per Share (100%/(100%-maximum sales charge x net asset value) of net asset value adjusted to the nearest cent):

          

A Shares

     $16.08        $12.21        $12.67        $7.71        $16.63   

Maximum Sales Charge — A Shares

     5.75     5.75     5.75     5.75     5.75

 

* Investments include securities on loan of $—, $9,880,422, $9,463,727, $1,199,306 and $2,818,450, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

59


STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2013

 

    Mid-Cap
Value Equity
Fund
    Select Large
Cap Growth
Stock Fund
    Small Cap
Growth Stock
Fund
    Small Cap
Value Equity
Fund
 

Assets:

       

Total Investments, at Cost

    $2,427,039,646        $27,781,051        $145,045,369        $1,298,681,394   
 

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments, at Value*

    $2,740,361,360        $35,342,134        $186,156,501        $1,626,497,957   

Cash

    1,104,913        6,294        17,494        425,779   

Dividends Receivable

    4,163,096        21,227        9,677        1,978,937   

Securities Lending Income Receivable

    16,756        274        18,413          

Receivable for Capital Shares Issued

    3,604,331        281        216,450        1,591,796   

Receivable for Investment Securities Sold

    29,585,079               2,802,875          

Reclaims Receivable

                         126,090   

Prepaid Expenses and Other Assets

    56,107        30,339        25,567        56,181   
 

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

    2,778,891,642        35,400,549        189,246,977        1,630,676,740   
 

 

 

   

 

 

   

 

 

   

 

 

 

Liabilities:

       

Payable for Investment Securities Purchased

    9,405,146        430,860                 

Payable for Capital Shares Redeemed

    5,150,601        406,410        503,317        2,493,058   

Payable Upon Return of Securities Loaned

    48,345,725        257,450        18,787,977          

Investment Advisory Fees Payable

    1,573,465        21,388        121,021        1,101,493   

Compliance and Fund Services Fees Payable

    41,790        634        3,926        26,279   

Distribution and Service Fees Payable

    168,158        11,791        8,246        76,802   

Other Accrued Expenses

    1,722,466        18,828        165,460        1,058,395   
 

 

 

   

 

 

   

 

 

   

 

 

 

Total Liabilities

    66,407,351        1,147,361        19,589,947        4,756,027   
 

 

 

   

 

 

   

 

 

   

 

 

 

Total Net Assets

    $2,712,484,291        $34,253,188        $169,657,030        $1,625,920,713   
 

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets Consist of:

       

Capital

    $2,242,601,522        $24,917,614        $123,459,803        $1,266,523,766   

Accumulated Net Investment Income (Loss)

    5,566,759        (37,016              

Accumulated Net Realized Gain from Investments and Foreign Currency Transactions

    150,994,296        1,811,507        5,086,095        31,580,205   

Net Unrealized Appreciation on Investments and Foreign Currencies

    313,321,714        7,561,083        41,111,132        327,816,742   
 

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets

    $2,712,484,291        $34,253,188        $169,657,030        $1,625,920,713   
 

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

       

I Shares

    $2,168,210,366        $19,813,254        $152,674,017        $1,408,597,115   

A Shares

    490,381,279        765,309        10,225,887        181,308,445   

C Shares

    53,892,646        13,674,625        6,757,126        36,015,153   

Shares Outstanding (unlimited number of shares authorized, no par value)

       

I Shares

    165,999,174        736,238        9,748,617        91,154,587   

A Shares

    37,851,952        29,192        707,397        11,937,229   

C Shares

    4,219,448        604,078        574,323        2,488,432   

Net Asset Value and Redemption Price Per Share:

       

I Shares

    $13.06        $26.91        $15.66        $15.45   

A Shares

    12.96        26.22        14.46        15.19   

C Shares(a)

    12.77        22.64        11.77        14.47   

Offering Price Per Share (100%/(100%-maximum sales charge x net asset value) of net asset value adjusted to the nearest cent):

       

A Shares

    $13.75        $27.82        $15.34        $16.12   

Maximum Sales Charge — A Shares

    5.75     5.75     5.75     5.75

 

* Investments include securities on loan of $47,183,569, $251,788, $18,271,783 and $—, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

60


STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2013    

 

     Aggressive
Growth Allocation
Strategy
    Conservative
Allocation
Strategy
    Growth
Allocation
Strategy
    Moderate
Allocation
Strategy
 

Assets:

        

Total Investments, at Cost

     $20,686,498        $57,628,486        $59,194,156        $159,358,367   
  

 

 

   

 

 

   

 

 

   

 

 

 

Investments, at Value

     $3,628,277        $5,161,172        $9,260,336        $19,592,571   

Investments in Affiliates, at Value

     19,811,774        54,643,128        57,637,397        154,334,601   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments

     23,440,051        59,804,300        66,897,733        173,927,172   
  

 

 

   

 

 

   

 

 

   

 

 

 

Dividends Receivable

     17,608        77,422        57,388        199,867   

Receivable for Capital Shares Issued

     8,066        151,928        29,806        83,116   

Receivable for Investment Securities Sold

                          4,017,700   

Receivable from Investment Adviser

     11,273        3,975        6,804          

Prepaid Expenses and Other Assets

     20,027        22,965        21,855        30,217   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

     23,497,025        60,060,590        67,013,586        178,258,072   
  

 

 

   

 

 

   

 

 

   

 

 

 

Liabilities:

        

Payable for Investment Securities Purchased

     6,760        67,661        32,373        146,057   

Payable for Capital Shares Redeemed

     63,461        203,367        94,735        4,283,536   

Investment Advisory Fees Payable

     1,975        5,098        5,637        15,038   

Compliance and Fund Services Fees Payable

     384        1,057        1,124        2,980   

Distribution and Service Fees Payable

     1,671        17,507        4,536        16,980   

Other Accrued Expenses

     31,689        28,449        75,769        152,819   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Liabilities

     105,940        323,139        214,174        4,617,410   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Net Assets

     $23,391,085        $59,737,451        $66,799,412        $173,640,662   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets Consist of:

        

Capital

     $19,104,066        $55,441,847        $54,633,702        $150,027,037   

Accumulated Net Investment Income

     5,342        165,131        85,158        435,223   

Accumulated Net Realized Gain from Investments and Foreign Currency Transactions

     1,528,124        1,954,659        4,376,975        8,609,597   

Net Unrealized Appreciation on Investments and Foreign Currencies

     2,753,553        2,175,814        7,703,577        14,568,805   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets

     $23,391,085        $59,737,451        $66,799,412        $173,640,662   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

        

I Shares

     $18,577,323        $27,387,419        $55,221,675        $139,912,381   

A Shares

     4,110,069        16,939,910        8,975,303        19,622,484   

C Shares

     703,693        15,410,122        2,602,434        14,105,797   

Shares Outstanding (unlimited number of shares authorized, no par value)

        

I Shares

     2,075,956        2,183,823        4,896,814        12,597,422   

A Shares

     463,014        1,351,984        798,935        1,770,814   

C Shares

     80,932        1,241,045        234,924        1,281,920   

Net Asset Value and Redemption Price Per Share:

        

I Shares

     $8.95        $12.54        $11.28        $11.11   

A Shares

     8.88        12.53        11.23        11.08   

C Shares(a)

     8.69        12.42        11.08        11.00   

Offering Price Per Share (100%/(100%-maximum sales charge x net asset value) of net asset value adjusted to the nearest cent):

        

A Shares

     $9.42        $13.15        $11.92        $11.76   

Maximum Sales Charge — A Shares

     5.75     4.75     5.75     5.75

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

61


STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Year Ended March 31, 2013

 

     Aggressive
Growth
Stock Fund
    International
Equity Fund
    International
Equity Index
Fund
    Large Cap
Growth Stock
Fund
    Large Cap
Value Equity
Fund
 

Investment Income:

          

Interest Income

     $—        $653        $2,282        $—        $—   

Dividend Income

     126,779        8,681,269        11,039,690        3,125,882        48,119,008   

Net Income from Securities Lending

     20,694        314,223        476,184        8,052        32,358   

Less: Foreign Taxes Withheld

            (800,003     (1,015,650     (9,150     (31,848
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Income

     147,473        8,196,142        10,502,506        3,124,784        48,119,518   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Expenses:

          

Investment Advisory Fees

     627,923        2,547,920        1,391,805        2,134,961        12,675,718   

Administration Fees

     5,995        23,707        27,109        24,260        166,489   

Fund Accounting Fees

     7,227        48,037        57,426        26,635        177,525   

Transfer Agency Fees

     30,211        15,665        14,219        101,973        138,035   

Compliance & Fund Services Fees

     5,355        18,184        21,274        19,027        127,890   

Distribution and Service Fees — A Shares

     14,520        14,976        7,212        129,752        754,389   

Distribution and Service Fees — C Shares

                          169,819        156,638   

Shareholder Servicing Fees — I Shares

     36,592        14,771        196,388        51,240        2,136,004   

Shareholder Servicing Fees — A Shares

     3,387        1,320        763        703        542,806   

Custodian Fees

     21,263        157,301        421,298        16,429        43,731   

Printing Fees

     6,308        11,112        9,790        12,335        78,529   

Registration Fees

     37,781        31,610        33,254        43,145        58,924   

Trustee Fees

     3,485        12,288        14,439        13,226        87,371   

Other Fees

     12,091        41,077        74,668        30,130        147,277   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Expenses

     812,138        2,937,968        2,269,645        2,773,635        17,291,326   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

     (7,685            (83,256     (373     (275,540

Less: Custodian Credits (Note 3)

                                 (54
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Expenses

     804,453        2,937,968        2,186,389        2,773,262        17,015,732   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Investment Income (Loss)

     (656,980     5,258,174        8,316,117        351,522        31,103,786   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currencies:

          

Net Realized Gain from:

          

Investment and Foreign Currency Transactions

     26,221,386        4,518,774        32,128,718        86,033,018        154,363,603   

Net Change in Unrealized Appreciation (Depreciation) on:

          

Investments and Foreign Currencies

     (29,063,146     16,755,641        (15,314,641     (79,684,004     51,750,179   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currencies

     (2,841,760     21,274,415        16,814,077        6,349,014        206,113,782   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

     $(3,498,740     $26,532,589        $25,130,194        $6,700,536        $237,217,568   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

62


STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Year Ended March 31, 2013

 

     Mid-Cap
Value Equity
Fund
    Select Large
Cap Growth
Stock Fund
    Small Cap
Growth Stock
Fund
    Small Cap
Value Equity
Fund
 

Investment Income:

        

Dividend Income

     $51,987,230        $450,788        $1,094,261        $38,266,524   

Net Income from Securities Lending

     3,429,787        2,059        581,903          

Less: Foreign Taxes Withheld

     (82,679     (2,099            (243,566
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Income

     55,334,338        450,748        1,676,164        38,022,958   
  

 

 

   

 

 

   

 

 

   

 

 

 

Expenses:

        

Investment Advisory Fees

     17,008,118        308,592        2,288,677        12,972,151   

Administration Fees

     200,166        3,720        21,737        131,223   

Fund Accounting Fees

     204,139        3,894        23,936        136,614   

Transfer Agency Fees

     734,155        30,091        43,926        339,802   

Compliance & Fund Services Fees

     151,830        2,851        17,307        100,090   

Distribution and Service Fees — A Shares

     1,282,383        2,270        28,545        505,713   

Distribution and Service Fees — C Shares

     440,764        143,993        69,009        358,164   

Shareholder Servicing Fees — I Shares

     3,688,119        8,226        352,839        2,588,085   

Shareholder Servicing Fees — A Shares

     923,522        100        2,466        347,897   

Custodian Fees

     54,481        11,432        22,338        61,314   

Printing Fees

     235,140        4,757        10,260        227,526   

Registration Fees

     101,141        41,418        42,145        91,539   

Trustee Fees

     102,532        1,975        11,796        67,585   

Other Fees

     187,221        9,449        26,189        120,323   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Expenses

     25,313,711        572,768        2,961,170        18,048,026   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

     (174,546     (71     (24     (2,051

Less: Custodian Credits (Note 3)

     (131            (14     (148
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Expenses

     25,139,034        572,697        2,961,132        18,045,827   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Investment Income (Loss)

     30,195,304        (121,949     (1,284,968     19,977,131   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currencies:

        

Net Realized Gain from:

        

Investment and Foreign Currency Transactions

     217,650,368        6,410,373        51,688,731        28,098,118   

Net Change in Unrealized Appreciation (Depreciation) on:

        

Investments and Foreign Currencies

     166,437,032        (6,845,136     (23,401,388     198,175,851   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currencies

     384,087,400        (434,763     28,287,343        226,273,969   
  

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

     $414,282,704        $(556,712     $27,002,375        $246,251,100   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

63


STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Year Ended March 31, 2013

 

     Aggressive
Growth
Allocation
Strategy
    Conservative
Allocation
Strategy
    Growth
Allocation
Strategy
    Moderate
Allocation
Strategy
 

Investment Income:

        

Dividend Income

     $74,454        $99,445        $196,694        $403,242   

Dividend Income from Affiliated Investment Companies

     193,109        1,063,158        785,674        2,670,913   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Income

     267,563        1,162,603        982,368        3,074,155   
  

 

 

   

 

 

   

 

 

   

 

 

 

Expenses:

        

Investment Advisory Fees

     22,997        59,025        68,104        173,682   

Administration Fees

     2,093        5,371        6,197        15,805   

Fund Accounting Fees

     20,000        20,000        20,000        20,000   

Transfer Agency Fees

     15,933        38,638        17,573        45,113   

Compliance & Fund Services Fees

     1,619        4,101        4,780        12,060   

Distribution and Service Fees — A Shares

     12,916        60,883        30,235        59,244   

Distribution and Service Fees — C Shares

     7,536        140,021        25,924        141,823   

Shareholder Servicing Fees — I Shares

     45,081        10,549        148,808        307,315   

Shareholder Servicing Fees — A Shares

     1,885        7,328        6,393        15,674   

Custodian Fees

     9,712        9,729        10,266        11,193   

Printing Fees

     3,279        7,538        5,150        12,150   

Registration Fees

     43,937        48,353        44,864        43,751   

Trustee Fees

     1,091        2,771        3,236        8,150   

Other Fees

     7,957        10,217        10,994        18,085   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Expenses

     196,036        424,524        402,524        884,045   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

     (87,752     (65,489     (86,203     (36,646
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Expenses

     108,284        359,035        316,321        847,399   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Investment Income (Loss)

     159,279        803,568        666,047        2,226,756   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments:

        

Net Realized Gain (Loss) from:

        

Investment and Foreign Currency Transactions

     533,759        (563,716     509,243        193,025   

Capital Gain Received from Investments in Affiliated Investment Companies

     2,398,661        3,290,127        6,241,378        12,906,187   

Net Change in Unrealized Depreciation on:

        

Investments and Foreign Currencies

     (1,765,997     (574,940     (2,763,305     (4,143,403
  

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain on Investments and Foreign Currencies

     1,166,423        2,151,471        3,987,316        8,955,809   
  

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

     $1,325,702        $2,955,039        $4,653,363        $11,182,565   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

64


STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Aggressive Growth
Stock Fund
    International
Equity Fund
    International
Equity Index
Fund
 
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income (Loss)

  $ (656,980   $ (1,065,649   $ 5,258,174      $ 5,491,214      $ 8,316,117      $ 12,830,572   

Net Realized Gain

    26,221,386        12,724,489        4,518,774        7,105,640        32,128,718        35,204,059   

Net Change in Unrealized Appreciation (Depreciation)

    (29,063,146     (21,443,486     16,755,641        (25,565,671     (15,314,641     (92,859,978
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    (3,498,740     (9,784,646     26,532,589        (12,968,817     25,130,194        (44,825,347
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

                  (4,944,920     (5,045,919     (10,474,532     (14,901,009

A Shares

                  (80,358     (110,840     (78,605     (94,609

Net Realized Gains:

           

I Shares

    (1,864,677                          (6,082,841       

A Shares

    (144,714                          (49,337       
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (2,009,391            (5,025,278     (5,156,759     (16,685,315     (14,995,618
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    (67,006,289     (36,442,563     (11,450,962     25,707,419        (125,277,294     (80,568,430
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    (72,514,420     (46,227,209     10,056,349        7,581,843        (116,832,415     (140,389,395
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    91,934,211        138,161,420        267,061,005        259,479,162        342,292,368        482,681,763   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 19,419,791      $ 91,934,211      $ 277,117,354      $ 267,061,005      $ 225,459,953      $ 342,292,368   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (95,143   $ (223,004   $ 1,158,581      $ 1,010,397      $ (1,530,587   $ (133,144
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

65


STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Large Cap Growth Stock Fund     Large Cap Value Equity Fund     Mid-Cap Value Equity Fund  
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income (Loss)

  $ 351,522      $ (928,107   $ 31,103,786      $ 29,894,827      $ 30,195,304      $ 30,594,776   

Net Realized Gain (Loss)

    86,033,018        64,077,070        154,363,603        (16,071,295     217,650,368        (71,339,425

Net Change in Unrealized Appreciation (Depreciation)

    (79,684,004     (33,065,228     51,750,179        114,627,191        166,437,032        (24,071,656
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    6,700,536        30,083,735        237,217,568        128,450,723        414,282,704        (64,816,305
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

    (172,924            (22,686,220     (26,417,003     (20,301,518     (24,420,905

A Shares

                  (3,331,162     (2,211,917     (4,157,336     (4,738,614

C Shares

                  (136,410     (102,279     (267,995     (209,525

Net Realized Gains:

           

I Shares

    (83,174,333                          (4,946,664     (134,564,441

A Shares

    (19,396,131                          (1,207,086     (34,877,118

C Shares

    (8,448,313                          (128,159     (3,269,801
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (111,191,701            (26,153,792     (28,731,199     (31,008,758     (202,080,404
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    36,206,330        (175,832,011     (700,801,676     688,821,039        174,020,747        434,814,980   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    (68,284,835     (145,748,276     (489,737,900     788,540,563        557,294,693        167,918,271   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    324,306,973        470,055,249        2,236,243,354        1,447,702,791        2,155,189,598        1,987,271,327   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 256,022,138      $ 324,306,973      $ 1,746,505,454      $ 2,236,243,354      $ 2,712,484,291      $ 2,155,189,598   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ 7,574      $ (228,630   $ 5,925,183      $ 1,136,349      $ 5,566,759      $ 939,982   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

66


STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Select Large Cap Growth
Stock Fund
    Small Cap Growth
Stock Fund
    Small Cap Value Equity Fund  
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income (Loss)

  $ (121,949   $ (245,626   $ (1,284,968   $ (2,337,801   $ 19,977,131      $ 9,989,332   

Net Realized Gain

    6,410,373        15,888,479        51,688,731        51,132,665        28,098,118        83,216,802   

Net Change in Unrealized Appreciation (Depreciation)

    (6,845,136     (15,058,416     (23,401,388     (58,542,582     198,175,851        (67,407,464
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    (556,712     584,437        27,002,375        (9,747,718     246,251,100        25,798,670   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

                                (19,941,813     (8,676,320

A Shares

                                (2,324,205     (766,570

C Shares

                                (373,428     (54,101

Net Realized Gains:

           

I Shares

    (5,021,063     (1,072,604     (47,793,289            (35,626,220     (51,278,812

A Shares

    (160,162     (17,670     (2,175,730            (4,786,603     (6,993,709

C Shares

    (3,312,715     (447,150     (1,768,606            (1,033,131     (1,734,291
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (8,493,940     (1,537,424     (51,737,625            (64,085,400     (69,503,803
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    (8,043,600     (47,318,677     (91,461,953     (134,668,157     67,455,286        282,560,720   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    (17,094,252     (48,271,664     (116,197,203     (144,415,875     249,620,986        238,855,587   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    51,347,440        99,619,104        285,854,233        430,270,108        1,376,299,727        1,137,444,140   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 34,253,188      $ 51,347,440      $ 169,657,030      $ 285,854,233      $ 1,625,920,713      $ 1,376,299,727   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (37,016   $ (64,435   $      $ (413,414   $      $ 529,817   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

67


STATEMENTS OF CHANGES IN NET ASSETS  (continued)

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Aggressive Growth Allocation
Strategy
    Conservative Allocation Strategy  
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

       

Net Investment Income

  $ 159,279      $ 225,879      $ 803,568      $ 723,326   

Net Realized Gain(a)

    2,932,420        817,896        2,726,411        1,230,143   

Net Change in Unrealized Appreciation (Depreciation)(a)

    (1,765,997     (969,411     (574,940     820,083   
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    1,325,702        74,364        2,955,039        2,773,552   
 

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

       

Net Investment Income:

       

I Shares

    (189,120     (343,349     (561,768     (490,584

A Shares

    (36,669     (55,256     (382,735     (301,614

C Shares

    (3,554     (7,756     (222,281     (190,595

Net Realized Gains:

       

I Shares

                  (262,970     (173,316

A Shares

                  (196,244     (114,739

C Shares

                  (152,923     (102,235
 

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (229,343     (406,361     (1,778,921     (1,373,083
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    (2,490,846     (3,120,637     207,365        28,380,350   
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    (1,394,487     (3,452,634     1,383,483        29,780,819   
 

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

       

Beginning of Period

    24,785,572        28,238,206        58,353,968        28,573,149   
 

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 23,391,085      $ 24,785,572      $ 59,737,451      $ 58,353,968   
 

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ 5,342      $ 16,945      $ 165,131      $ 139,542   
 

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Net realized gain (loss) from investment transactions and net change in unrealized appreciation (depreciation) on investments for the Allocation Strategy Funds are primarily attributable to the underlying investments in affiliated investment companies.

 

See Notes to Financial Statements.

 

68


STATEMENTS OF CHANGES IN NET ASSETS  (concluded)

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Growth Allocation Strategy     Moderate Allocation Strategy  
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

       

Net Investment Income

  $ 666,047      $ 953,611      $ 2,226,756      $ 2,803,134   

Net Realized Gain(a)

    6,750,621        2,801,141        13,099,212        5,801,325   

Net Change in Unrealized Depreciation(a)

    (2,763,305     (1,708,870     (4,143,403     (1,699,827
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    4,653,363        2,045,882        11,182,565        6,904,632   
 

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

       

Net Investment Income:

       

I Shares

    (737,505     (1,157,474     (2,342,232     (3,317,278

A Shares

    (120,331     (193,469     (305,300     (387,451

C Shares

    (19,640     (34,327     (151,501     (248,498

Net Realized Gains:

       

I Shares

                  (2,159,304     (194,113

A Shares

                  (307,003     (25,588

C Shares

                  (220,428     (23,095
 

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (877,476     (1,385,270     (5,485,768     (4,196,023
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    (7,939,350     972,762        (831,115     13,594,481   
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    (4,163,463     1,633,374        4,865,682        16,303,090   
 

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

       

Beginning of Period

    70,962,875        69,329,501        168,774,980        152,471,890   
 

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 66,799,412      $ 70,962,875      $ 173,640,662      $ 168,774,980   
 

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ 85,158      $ 91,146      $ 435,223      $ 212,972   
 

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Net realized gain (loss) from investment transactions and net change in unrealized appreciation (depreciation) on investments for the Allocation Strategy Funds are primarily attributable to the underlying investments in affiliated investment companies.

 

See Notes to Financial Statements.

 

69


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net Assets
    Portfolio
Turnover
Rate
 

Aggressive Growth Stock Fund

                             

I Shares

                             

Year Ended March 31, 2013

  $ 15.94      $ (0.14 )(b)    $ 0.42      $ 0.28      $      $      $ (0.62   $ (0.62   $ 15.60      $ 15,840        1.84     1.20     1.21     (0.98 )%      24

Year Ended March 31, 2012

    16.45        (0.15 )(b)      (0.36     (0.51                                 15.94        88,132        (3.16     1.22        1.22        (0.98     30   

Year Ended March 31, 2011

    12.86        (0.12 )(b)      3.71        3.59                                    16.45        134,643        27.99        1.19        1.19        (0.89     53   

Year Ended March 31, 2010

    7.73        (0.08 )(b)      5.21        5.13                                    12.86        108,754        66.36        1.21        1.21        (0.77     27   

Year Ended March 31, 2009

    12.03        (0.09     (3.99     (4.08                   (0.22     (0.22     7.73        152,030        (33.89     1.16        1.16        (0.72     27   

A Shares

                             

Year Ended March 31, 2013

    15.54        (0.18 )(b)      0.42        0.24                      (0.62     (0.62     15.16        3,580        1.63        1.49        1.53        (1.24     24   

Year Ended March 31, 2012

    16.10        (0.18 )(b)      (0.38     (0.56                                 15.54        3,803        (3.48     1.53        1.53        (1.28     30   

Year Ended March 31, 2011

    12.62        (0.16 )(b)      3.64        3.48                                    16.10        3,519        27.58        1.49        1.49        (1.19     53   

Year Ended March 31, 2010

    7.61        (0.13 )(b)      5.14        5.01                                    12.62        2,502        65.83        1.52        1.52        (1.12     27   

Year Ended March 31, 2009

    11.88        (0.12     (3.93     (4.05                   (0.22     (0.22     7.61        416        (34.06     1.46        1.46        (1.01     27   

International Equity Fund

                             

I Shares

                             

Year Ended March 31, 2013

    10.74        0.22 (b)      0.89        1.11        (0.21                   (0.21     11.64        272,552        10.38        1.12        1.12        2.02        52   

Year Ended March 31, 2012

    11.62        0.25 (b)      (0.90     (0.65     (0.23                   (0.23     10.74        261,561        (5.24     1.29        1.29        2.33        78   

Year Ended March 31, 2011

    10.71        0.16 (b)      1.02        1.18        (0.27                   (0.27     11.62        252,253        11.29        1.27        1.27        1.49        80   

Year Ended March 31, 2010

    6.38        0.11 (b)      4.28        4.39        (0.06                   (0.06     10.71        273,819        68.80        1.25        1.30        1.17        95   

Year Ended March 31, 2009

    13.77        0.35        (7.28     (6.93     (0.25            (0.21     (0.46     6.38        185,862        (50.68     1.24        1.25        2.93        193   

A Shares

                             

Year Ended March 31, 2013

    10.63        0.18 (b)      0.87        1.05        (0.17                   (0.17     11.51        4,565        9.95        1.45        1.45        1.73        52   

Year Ended March 31, 2012

    11.49        0.21 (b)      (0.87     (0.66     (0.20                   (0.20     10.63        5,500        (5.48     1.59        1.59        2.02        78   

Year Ended March 31, 2011

    10.59        0.13 (b)      1.01        1.14        (0.24                   (0.24     11.49        7,227        10.98        1.57        1.57        1.24        80   

Year Ended March 31, 2010

    6.32        0.09 (b)      4.22        4.31        (0.04                   (0.04     10.59        8,104        68.22        1.55        1.59        0.68        95   

Year Ended March 31, 2009

    13.61        0.33        (7.21     (6.88     (0.20            (0.21     (0.41     6.32        3,580        (50.84     1.54        1.54        2.71        193   

International Equity Index Fund

                             

I Shares

                             

Year Ended March 31, 2013

    11.68        0.32 (b)      0.67        0.99        (0.40            (0.23     (0.63     12.04        222,839        8.62        0.73        0.76        2.79        24   

Year Ended March 31, 2012

    13.52        0.38 (b)      (1.77     (1.39     (0.45                   (0.45     11.68        339,763        (9.78     0.72        0.72        3.15        31   

Year Ended March 31, 2011

    12.72        0.33 (b)      0.86        1.19        (0.39                   (0.39     13.52        478,223        9.55        0.66        0.66        2.65        43   

Year Ended March 31, 2010

    8.75        0.34        4.03        4.37        (0.40                   (0.40     12.72        839,582        49.93        0.64        0.64        2.46        36   

Year Ended March 31, 2009

    17.82        0.60        (9.05     (8.45     (0.62                   (0.62     8.75        726,931        (47.89     0.61        0.61        3.63        47   

A Shares

                             

Year Ended March 31, 2013

    11.59        0.27 (b)      0.68        0.95        (0.37            (0.23     (0.60     11.94        2,621        8.33        0.99        1.04        2.42        24   

Year Ended March 31, 2012

    13.40        0.38 (b)      (1.79     (1.41     (0.40                   (0.40     11.59        2,529        (10.05     1.02        1.02        3.11        31   

Year Ended March 31, 2011

    12.61        0.28 (b)      0.86        1.14        (0.35                   (0.35     13.40        4,459        9.23        0.92        0.92        2.25        43   

Year Ended March 31, 2010

    8.69        0.25        4.05        4.30        (0.38                   (0.38     12.61        5,998        49.46        0.94        0.94        1.72        36   

Year Ended March 31, 2009

    17.67        0.52        (8.93     (8.41     (0.57                   (0.57     8.69        2,533        (48.04     0.91        0.91        3.48        47   

 

See Notes to Financial Statements.

 

70


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net Assets
    Portfolio
Turnover
Rate
 

Large Cap Growth Stock Fund

  

I Shares

                             

Year Ended March 31, 2013

  $ 12.95      $ 0.03 (b)    $ 0.24      $ 0.27      $ (0.01   $      $ (4.90   $ (4.91   $ 8.31      $ 167,887        3.64     0.94     0.94     0.23     40

Year Ended March 31, 2012

    11.55        (0.02 )(b)      1.42        1.40                                    12.95        261,090        12.12        1.07        1.07        (0.17     19   

Year Ended March 31, 2011

    9.59        0.01 (b)      1.95        1.96        (c)                           11.55        406,017        20.48        1.04        1.06        0.06        30   

Year Ended March 31, 2010

    6.57        0.01        3.02        3.03        (0.01                   (0.01     9.59        443,918        46.20        0.99        1.04        0.19        62   

Year Ended March 31, 2009

    9.95        0.04        (3.33     (3.29     (0.04            (0.05     (0.09     6.57        439,356        (33.16     0.99        1.03        0.54        85   

A Shares

                             

Year Ended March 31, 2013

    11.96        (b)(c)      0.21        0.21                      (4.90     (4.90     7.27        56,511        3.43        1.20        1.20        (0.01     40   

Year Ended March 31, 2012

    10.70        (0.05 )(b)      1.31        1.26                                    11.96        45,854        11.78        1.37        1.37        (0.45     19   

Year Ended March 31, 2011

    8.91        (0.02 )(b)      1.81        1.79                                    10.70        46,358        20.09        1.34        1.36        (0.24     30   

Year Ended March 31, 2010

    6.11        (0.01     2.81        2.80                                    8.91        44,994        45.90        1.29        1.34        (0.11     62   

Year Ended March 31, 2009

    9.27        0.02        (3.11     (3.09     (0.02            (0.05     (0.07     6.11        35,431        (33.40     1.30        1.33        0.19        85   

C Shares

                             

Year Ended March 31, 2013

    10.52        (0.06 )(b)      0.15        0.09                      (4.90     (4.90     5.71        31,625        2.69        1.89        1.89        (0.70     40   

Year Ended March 31, 2012

    9.48        (0.11 )(b)      1.15        1.04                                    10.52        17,363        10.97        2.07        2.07        (1.15     19   

Year Ended March 31, 2011

    7.94        (0.08 )(b)      1.62        1.54                                    9.48        17,680        19.40        2.04        2.06        (0.94     30   

Year Ended March 31, 2010

    5.49        (0.06     2.51        2.45                                    7.94        17,516        44.63        1.99        2.04        (0.81     62   

Year Ended March 31, 2009

    8.37        (0.04     (2.78     (2.82     (0.01            (0.05     (0.06     5.49        14,046        (33.77     2.00        2.03        (0.52     85   

Large Cap Value Equity Fund

                             

I Shares

                             

Year Ended March 31, 2013

    13.77        0.24 (b)      1.97        2.21        (0.22                   (0.22     15.76        1,442,154        16.24        0.89        0.89        1.74        78   

Year Ended March 31, 2012

    13.47        0.22 (b)      0.28        0.50        (0.20                   (0.20     13.77        1,985,434        3.92        0.82        0.82        1.74        110   

Year Ended March 31, 2011

    11.71        0.18 (b)      1.75        1.93        (0.17                   (0.17     13.47        1,348,969        16.69        0.83        0.83        1.48        134   

Year Ended March 31, 2010

    7.99        0.17        3.72        3.89        (0.17                   (0.17     11.71        1,288,962        49.03        0.81        0.82        1.67        105   

Year Ended March 31, 2009

    12.35        0.25        (4.36     (4.11     (0.25                   (0.25     7.99        998,608        (33.65     0.82        0.82        2.50        114   

A Shares

                             

Year Ended March 31, 2013

    13.70        0.21 (b)      1.95        2.16        (0.19                   (0.19     15.67        287,957        15.93        1.16        1.26        1.48        78   

Year Ended March 31, 2012

    13.41        0.19 (b)      0.27        0.46        (0.17                   (0.17     13.70        233,782        3.58        1.12        1.12        1.50        110   

Year Ended March 31, 2011

    11.66        0.15 (b)      1.74        1.89        (0.14                   (0.14     13.41        80,048        16.37        1.13        1.13        1.20        134   

Year Ended March 31, 2010

    7.96        0.14        3.71        3.85        (0.15                   (0.15     11.66        33,805        48.59        1.11        1.12        1.37        105   

Year Ended March 31, 2009

    12.30        0.24        (4.36     (4.12     (0.22                   (0.22     7.96        24,385        (33.83     1.12        1.12        2.17        114   

C Shares

                             

Year Ended March 31, 2013

    13.50        0.12 (b)      1.92        2.04        (0.12                   (0.12     15.42        16,394        15.25        1.75        1.75        0.89        78   

Year Ended March 31, 2012

    13.21        0.08 (b)      0.29        0.37        (0.08                   (0.08     13.50        17,027        2.86        1.82        1.82        0.68        110   

Year Ended March 31, 2011

    11.49        0.06 (b)      1.72        1.78        (0.06                   (0.06     13.21        18,686        15.53        1.83        1.83        0.48        134   

Year Ended March 31, 2010

    7.87        0.07        3.65        3.72        (0.10                   (0.10     11.49        19,823        47.43        1.81        1.82        0.67        105   

Year Ended March 31, 2009

    12.16        0.16        (4.31     (4.15     (0.14                   (0.14     7.87        15,410        (34.28     1.82        1.82        1.46        114   

Mid-Cap Value Equity Fund

                             

I Shares

                             

Year Ended March 31, 2013

    11.07        0.16 (b)      2.00        2.16        (0.14            (0.03     (0.17     13.06        2,168,210        19.73        1.08        1.08        1.44        123   

Year Ended March 31, 2012

    12.70        0.17 (b)      (0.66     (0.49     (0.17            (0.97     (1.14     11.07        1,679,244        (2.33     1.04        1.04        1.56        182   

Year Ended March 31, 2011

    11.17        0.10 (b)      2.26        2.36        (0.09            (0.74     (0.83     12.70        1,710,610        21.89        1.04        1.04        0.91        170   

Year Ended March 31, 2010

    6.45        0.11        4.73        4.84        (0.12                   (0.12     11.17        803,168        75.36        1.03        1.04        1.11        195   

Year Ended March 31, 2009

    9.58        0.14 (b)      (3.13     (2.99     (0.14                   (0.14     6.45        231,035        (31.46     1.07        1.07        1.76        213   

 

See Notes to Financial Statements.

 

71


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net Assets
    Portfolio
Turnover
Rate
 

A Shares

                             

Year Ended March 31, 2013

  $ 10.99      $ 0.13 (b)    $ 1.98      $ 2.11      $ (0.11   $      $ (0.03   $ (0.14   $ 12.96      $ 490,381        19.43     1.34     1.38     1.17     123

Year Ended March 31, 2012

    12.62        0.15 (b)      (0.67     (0.52     (0.14            (0.97     (1.11     10.99        433,674        (2.63     1.34        1.34        1.40        182   

Year Ended March 31, 2011

    11.11        0.08 (b)      2.24        2.32        (0.07            (0.74     (0.81     12.62        252,165        21.55        1.35        1.35        0.70        170   

Year Ended March 31, 2010

    6.42        0.09        4.70        4.79        (0.10                   (0.10     11.11        36,756        74.87        1.32        1.34        0.70        195   

Year Ended March 31, 2009

    9.53        0.12 (b)      (3.12     (3.00     (0.11                   (0.11     6.42        2,912        (31.64     1.37        1.37        1.36        213   

C Shares

                             

Year Ended March 31, 2013

    10.85        0.07 (b)      1.95        2.02        (0.07            (0.03     (0.10     12.77        53,893        18.75        1.86        1.86        0.65        123   

Year Ended March 31, 2012

    12.48        0.07 (b)      (0.66     (0.59     (0.07            (0.97     (1.04     10.85        42,272        (3.32     2.04        2.04        0.65        182   

Year Ended March 31, 2011

    11.02        (b)      2.21        2.21        (0.01            (0.74     (0.75     12.48        24,496        20.71        2.04        2.04        (0.04     170   

Year Ended March 31, 2010

    6.38        0.02        4.67        4.69        (0.05                   (0.05     11.02        5,853        73.71        2.03        2.04        0.13        195   

Year Ended March 31, 2009

    9.47        0.06 (b)      (3.10     (3.04     (0.05                   (0.05     6.38        1,949        (32.09     2.07        2.07        0.72        213   

Select Large Cap Growth Stock Fund

                             

I Shares

                             

Year Ended March 31, 2013

    33.89        0.01 (b)      (0.26     (0.25                   (6.73     (6.73     26.91        19,813        0.37        1.06        1.06        0.04        57   

Year Ended March 31, 2012

    32.51        (0.04 )(b)      2.24        2.20                      (0.82     (0.82     33.89        34,499        7.31        1.05        1.05        (0.13     66   

Year Ended March 31, 2011

    27.79        0.02 (b)      4.70        4.72                                    32.51        80,589        16.98        0.99        0.99        0.07        72   

Year Ended March 31, 2010

    19.74        0.04        8.03        8.07        (0.02     (c)             (0.02     27.79        114,100        40.93        0.96        0.96        0.18        65   

Year Ended March 31, 2009

    28.32        0.09        (8.60     (8.51     (0.06     (0.01            (0.07     19.74        95,540        (30.06     0.95        0.96        0.45        65   

A Shares

                             

Year Ended March 31, 2013

    33.28        (0.06 )(b)      (0.27     (0.33                   (6.73     (6.73     26.22        765        0.13        1.33        1.33        (0.21     57   

Year Ended March 31, 2012

    32.04        (0.13 )(b)      2.19        2.06                      (0.82     (0.82     33.28        796        6.98        1.36        1.36        (0.43     66   

Year Ended March 31, 2011

    27.47        (0.06 )(b)      4.63        4.57                                    32.04        698        16.64        1.29        1.29        (0.21     72   

Year Ended March 31, 2010

    19.54        (0.03     7.97        7.94        (0.01     (c)             (0.01     27.47        244        40.65        1.25        1.26        (0.10     65   

Year Ended March 31, 2009

    28.06        0.02        (8.52     (8.50     (0.01     (0.01            (0.02     19.54        175        (30.28     1.25        1.25        0.04        65   

C Shares

                             

Year Ended March 31, 2013

    29.90        (0.24 )(b)      (0.29     (0.53                   (6.73     (6.73     22.64        13,675        (0.58     2.02        2.02        (0.91     57   

Year Ended March 31, 2012

    29.08        (0.31 )(b)      1.95        1.64                      (0.82     (0.82     29.90        16,053        6.24        2.06        2.06        (1.13     66   

Year Ended March 31, 2011

    25.10        (0.23 )(b)      4.21        3.98                                    29.08        18,332        15.86        1.99        1.99        (0.92     72   

Year Ended March 31, 2010

    17.99        (0.19     7.30        7.11               (c)                    25.10        19,040        39.52        1.96        1.96        (0.81     65   

Year Ended March 31, 2009

    25.98        (0.14     (7.85     (7.99                                 17.99        15,237        (30.75     1.95        1.95        (0.59     65   

Small Cap Growth Stock Fund

  

I Shares

                             

Year Ended March 31, 2013

    17.21        (0.08 )(b)      2.19        2.11                      (3.66     (3.66     15.66        152,674        14.20        1.21        1.21        (0.50     50   

Year Ended March 31, 2012

    17.17        (0.10 )(b)      0.14 (d)      0.04                                    17.21        267,694        0.23        1.23        1.23        (0.62     71   

Year Ended March 31, 2011

    13.32        (0.11 )(b)      3.96        3.85                                    17.17        408,399        28.90        1.23        1.23        (0.81     112   

Year Ended March 31, 2010

    8.52        (0.09     4.89        4.80                                    13.32        358,947        56.34        1.22        1.22        (0.76     103   

Year Ended March 31, 2009

    13.53        (0.04     (4.97     (5.01                                 8.52        273,548        (37.03     1.21        1.21        (0.30     157   

A Shares

                             

Year Ended March 31, 2013

    16.18        (0.11 )(b)      2.05        1.94                      (3.66     (3.66     14.46        10,226        14.07        1.37        1.37        (0.69     50   

Year Ended March 31, 2012

    16.19        (0.14 )(b)      0.13 (d)      (0.01                                 16.18        10,032        (0.06     1.54        1.54        (0.91     71   

Year Ended March 31, 2011

    12.59        (0.15 )(b)      3.75        3.60                                    16.19        12,235        28.59        1.53        1.53        (1.11     112   

Year Ended March 31, 2010

    8.08        (0.12     4.63        4.51                                    12.59        11,517        55.82        1.52        1.52        (1.06     103   

Year Ended March 31, 2009

    12.88        (0.08     (4.72     (4.80                                 8.08        8,294        (37.27     1.51        1.51        (0.60     157   

 

See Notes to Financial Statements.

 

72


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net Assets
    Portfolio
Turnover
Rate
 

C Shares

                             

Year Ended March 31, 2013

  $ 13.91      $ (0.18 )(b)    $ 1.70      $ 1.52      $      $      $ (3.66   $ (3.66   $ 11.77      $ 6,757        13.30     2.05     2.05     (1.39 )%      50

Year Ended March 31, 2012

    14.01        (0.21 )(b)      0.11 (d)      (0.10                                 13.91        8,129        (0.71     2.24        2.24        (1.61     71   

Year Ended March 31, 2011

    10.98        (0.21 )(b)      3.24        3.03                                    14.01        9,636        27.60        2.23        2.23        (1.81     112   

Year Ended March 31, 2010

    7.10        (0.17     4.05        3.88                                    10.98        8,827        54.65        2.22        2.22        (1.76     103   

Year Ended March 31, 2009

    11.38        (0.15)        (4.13     (4.28                                 7.10        6,567        (37.61     2.21        2.21        (1.30     157   

Small Cap Value Equity Fund

  

I Shares

                             

Year Ended March 31, 2013

    13.80        0.20 (b)      2.08        2.28        (0.23            (0.40     (0.63     15.45        1,408,597        17.07        1.20        1.20        1.44        27   

Year Ended March 31, 2012

    14.54        0.12 (b)      (0.07 )(d)      0.05        (0.12            (0.67     (0.79     13.80        1,169,093        1.15        1.20        1.20        0.92        46   

Year Ended March 31, 2011

    11.76        0.10 (b)      2.79        2.89        (0.11                   (0.11     14.54        1,002,005        24.68        1.21        1.21        0.82        72   

Year Ended March 31, 2010

    7.57        0.11        4.20        4.31        (0.12                   (0.12     11.76        612,490        57.15        1.21        1.21        1.29        62   

Year Ended March 31, 2009

    11.17        0.16        (3.44     (3.28     (0.16            (0.16     (0.32     7.57        316,142        (29.61     1.21        1.22        1.61        71   

A Shares

                             

Year Ended March 31, 2013

    13.58        0.15 (b)      2.05        2.20        (0.19            (0.40     (0.59     15.19        181,308        16.77        1.50        1.50        1.14        27   

Year Ended March 31, 2012

    14.33        0.08 (b)      (0.08 )(d)             (0.08            (0.67     (0.75     13.58        169,100        0.81        1.50        1.50        0.63        46   

Year Ended March 31, 2011

    11.59        0.06 (b)      2.75        2.81        (0.07                   (0.07     14.33        103,365        24.38        1.52        1.52        0.48        72   

Year Ended March 31, 2010

    7.47        0.07        4.15        4.22        (0.10                   (0.10     11.59        17,826        56.66        1.50        1.50        1.00        62   

Year Ended March 31, 2009

    11.03        0.13        (3.40     (3.27     (0.13            (0.16     (0.29     7.47        2,243        (29.83     1.49        1.50        1.34        71   

C Shares

                             

Year Ended March 31, 2013

    12.98        0.08 (b)      1.95        2.03        (0.14            (0.40     (0.54     14.47        36,015        16.17        1.99        1.99        0.65        27   

Year Ended March 31, 2012

    13.76        (0.01 )(b)      (0.08 )(d)      (0.09     (0.02            (0.67     (0.69     12.98        38,107        0.12        2.20        2.20        (0.08     46   

Year Ended March 31, 2011

    11.15        (0.02 )(b)      2.64        2.62        (0.01                   (0.01     13.76        32,074        23.51        2.21        2.21        (0.18     72   

Year Ended March 31, 2010

    7.20        0.02        3.97        3.99        (0.04                   (0.04     11.15        17,601        55.48        2.21        2.21        0.30        62   

Year Ended March 31, 2009

    10.65        0.09        (3.28     (3.19     (0.10            (0.16     (0.26     7.20        11,091        (30.14     1.89        1.89        0.94        71   

Aggressive Growth Allocation Strategy(e)

                             

I Shares

                             

Year Ended March 31, 2013

    8.50        0.06 (b)      0.48        0.54        (0.09                   (0.09     8.95        18,577        6.45        0.40        0.81        0.77        35   

Year Ended March 31, 2012

    8.57        0.08 (b)      (0.02     0.06        (0.13                   (0.13     8.50        18,993        0.89        0.20        0.45        0.98        55   

Year Ended March 31, 2011

    7.43        0.05 (b)      1.18        1.23        (0.09                   (0.09     8.57        22,524        16.73        0.20        0.52        0.71        19   

Year Ended March 31, 2010

    5.06        0.10        2.36        2.46        (0.09                   (0.09     7.43        22,335        48.74               0.33        1.41        23   

Year Ended March 31, 2009

    10.37        0.11        (3.68     (3.57     (0.13     (c)      (1.61     (1.74     5.06        13,411        (35.39     0.20        0.23        1.32        25   

A Shares

                             

Year Ended March 31, 2013

    8.43        0.04 (b)      0.49        0.53        (0.08                   (0.08     8.88        4,110        6.30        0.63        0.90        0.51        35   

Year Ended March 31, 2012

    8.52        0.05 (b)      (0.03     0.02        (0.11                   (0.11     8.43        4,982        0.42        0.50        0.75        0.61        55   

Year Ended March 31, 2011

    7.38        0.04 (b)      1.17        1.21        (0.07                   (0.07     8.52        4,655        16.48        0.50        0.84        0.51        19   

Year Ended March 31, 2010

    5.04        0.07        2.34        2.41        (0.07                   (0.07     7.38        2,438        48.02               0.63        1.03        23   

Year Ended March 31, 2009

    10.33        0.09        (3.66     (3.57     (0.11     (c)      (1.61     (1.72     5.04        1,815        (35.50     0.50        0.53        1.07        25   

C Shares

                             

Year Ended March 31, 2013

    8.28        (0.01 )(b)      0.46        0.45        (0.04                   (0.04     8.69        704        5.47        1.27        1.56        (0.10     35   

Year Ended March 31, 2012

    8.39        (0.01 )(b)      (0.02     (0.03     (0.08                   (0.08     8.28        811        (0.21     1.20        1.45        (0.12     55   

Year Ended March 31, 2011

    7.30        (0.02 )(b)      1.16        1.14        (0.05                   (0.05     8.39        1,059        15.70        1.20        1.52        (0.33     19   

Year Ended March 31, 2010

    5.00        0.03        2.32        2.35        (0.05                   (0.05     7.30        1,554        47.14               1.33        0.37        23   

Year Ended March 31, 2009

    10.29        0.03        (3.65     (3.62     (0.06     (c)      (1.61     (1.67     5.00        1,076        (36.04     1.20        1.23        0.39        25   

 

See Notes to Financial Statements.

 

73


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net Assets
    Portfolio
Turnover
Rate
 

Conservative Allocation Strategy(e)

                             

I Shares

                             

Year Ended March 31, 2013

  $ 12.27      $ 0.21 (b)    $ 0.46      $ 0.67      $ (0.27   $      $ (0.13   $ (0.40   $ 12.54      $ 27,387        5.55     0.27     0.39     1.72     40

Year Ended March 31, 2012

    12.07        0.27 (b)      0.38        0.65        (0.34            (0.11     (0.45     12.27        21,585        5.61        0.20        0.40        2.24        28   

Year Ended March 31, 2011

    11.51        0.28 (b)      0.75        1.03        (0.46            (0.01     (0.47     12.07        12,897        9.15        0.20        0.66        2.41        28   

Year Ended March 31, 2010

    9.81        0.27        1.72        1.99        (0.28            (0.01     (0.29     11.51        6,310        20.51        0.20        0.53        2.61        29   

Year Ended March 31, 2009

    11.11        0.44        (1.10     (0.66     (0.50            (0.14     (0.64     9.81        3,778        (6.06     0.20        0.36        4.08        48   

A Shares

                             

Year Ended March 31, 2013

    12.26        0.17 (b)      0.47        0.64        (0.24            (0.13     (0.37     12.53        16,940        5.29        0.56        0.68        1.37        40   

Year Ended March 31, 2012

    12.06        0.22 (b)      0.39        0.61        (0.30            (0.11     (0.41     12.26        24,322        5.32        0.50        0.70        1.83        28   

Year Ended March 31, 2011

    11.51        0.28 (b)      0.71        0.99        (0.43            (0.01     (0.44     12.06        8,371        8.73        0.50        0.96        2.35        28   

Year Ended March 31, 2010

    9.81        0.23        1.74        1.97        (0.26            (0.01     (0.27     11.51        3,137        20.25        0.50        0.89        2.27        29   

Year Ended March 31, 2009

    11.12        0.41        (1.11     (0.70     (0.47            (0.14     (0.61     9.81        584        (6.42     0.50        0.67        3.81        48   

C Shares

                             

Year Ended March 31, 2013

    12.18        0.09 (b)      0.47        0.56        (0.19            (0.13     (0.32     12.42        15,410        4.58        1.27        1.35        0.73        40   

Year Ended March 31, 2012

    11.99        0.15 (b)      0.38        0.53        (0.23            (0.11     (0.34     12.18        12,447        4.56        1.20        1.40        1.27        28   

Year Ended March 31, 2011

    11.44        0.17 (b)      0.74        0.91        (0.35            (0.01     (0.36     11.99        7,305        8.07        1.20        1.65        1.47        28   

Year Ended March 31, 2010

    9.77        0.16        1.71        1.87        (0.19            (0.01     (0.20     11.44        4,294        19.29        1.20        1.52        1.61        29   

Year Ended March 31, 2009

    11.09        0.31        (1.08     (0.77     (0.41            (0.14     (0.55     9.77        1,973        (7.08     1.20        1.37        3.17        48   

Growth Allocation Strategy(e)

                             

I Shares

                             

Year Ended March 31, 2013

    10.64        0.11 (b)      0.68        0.79        (0.15                   (0.15     11.28        55,222        7.52        0.40        0.55        1.04        20   

Year Ended March 31, 2012

    10.56        0.15 (b)      0.15        0.30        (0.22                   (0.22     10.64        57,078        3.06        0.20        0.26        1.53        49   

Year Ended March 31, 2011

    9.52        0.14 (b)      1.13        1.27        (0.23                   (0.23     10.56        55,332        13.58        0.20        0.31        1.44        25   

Year Ended March 31, 2010

    7.02        0.15        2.50        2.65        (0.15                   (0.15     9.52        54,407        37.92        0.19        0.24        1.70        21   

Year Ended March 31, 2009

    11.31        0.23        (2.99     (2.76     (0.26            (1.27     (1.53     7.02        40,472        (25.01     0.20        0.21        2.41        28   

A Shares

                             

Year Ended March 31, 2013

    10.61        0.09 (b)      0.66        0.75        (0.13                   (0.13     11.23        8,975        7.16        0.61        0.64        0.84        20   

Year Ended March 31, 2012

    10.53        0.12 (b)      0.15        0.27        (0.19                   (0.19     10.61        11,092        2.76        0.50        0.56        1.22        49   

Year Ended March 31, 2011

    9.48        0.13 (b)      1.12        1.25        (0.20                   (0.20     10.53        10,934        13.35        0.50        0.61        1.35        25   

Year Ended March 31, 2010

    7.00        0.13        2.48        2.61        (0.13                   (0.13     9.48        3,638        37.46        0.49        0.54        1.39        21   

Year Ended March 31, 2009

    11.28        0.20        (2.98     (2.78     (0.23            (1.27     (1.50     7.00        2,776        (25.21     0.49        0.50        2.07        28   

C Shares

                             

Year Ended March 31, 2013

    10.48        0.02 (b)      0.66        0.68        (0.08                   (0.08     11.08        2,602        6.55        1.25        1.28        0.22        20   

Year Ended March 31, 2012

    10.41        0.05 (b)      0.15        0.20        (0.13                   (0.13     10.48        2,793        2.03        1.20        1.26        0.50        49   

Year Ended March 31, 2011

    9.38        0.04 (b)      1.12        1.16        (0.13                   (0.13     10.41        3,063        12.50        1.20        1.31        0.43        25   

Year Ended March 31, 2010

    6.94        0.07        2.46        2.53        (0.09                   (0.09     9.38        3,234        36.53        1.19        1.24        0.69        21   

Year Ended March 31, 2009

    11.22        0.14        (2.98     (2.84     (0.17            (1.27     (1.44     6.94        2,844        (25.88     1.19        1.20        1.37        28   

Moderate Allocation Strategy(e)

                             

I Shares

                             

Year Ended March 31, 2013

    10.77        0.15 (b)      0.54        0.69        (0.18            (0.17     (0.35     11.11        139,912        6.60        0.40        0.43        1.37        29   

Year Ended March 31, 2012

    10.60        0.20 (b)      0.27        0.47        (0.28            (0.02     (0.30     10.77        133,382        4.63        0.20        0.22        1.96        38   

Year Ended March 31, 2011

    9.84        0.20 (b)      0.90        1.10        (0.34                   (0.34     10.60        122,804        11.45        0.20        0.23        2.00        33   

Year Ended March 31, 2010

    7.76        0.20        2.09        2.29        (0.21                   (0.21     9.84        125,016        29.66        0.19        0.21        2.22        21   

Year Ended March 31, 2009

    10.38        0.29        (2.07     (1.78     (0.34            (0.50     (0.84     7.76        103,606        (17.47     0.20        0.21        3.11        31   

 

See Notes to Financial Statements.

 

74


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net Assets
    Portfolio
Turnover
Rate
 

A Shares

                             

Year Ended March 31, 2013

  $ 10.75      $ 0.13 (b)    $ 0.54      $ 0.67      $ (0.17   $      $ (0.17   $ (0.34   $ 11.08      $ 19,622        6.36     0.58     0.59     1.19     29

Year Ended March 31, 2012

    10.58        0.18 (b)      0.26        0.44        (0.25            (0.02     (0.27     10.75        20,366        4.33        0.50        0.52        1.70        38   

Year Ended March 31, 2011

    9.82        0.18 (b)      0.89        1.07        (0.31                   (0.31     10.58        14,416        11.11        0.50        0.53        1.79        33   

Year Ended March 31, 2010

    7.75        0.17        2.08        2.25        (0.18                   (0.18     9.82        8,615        29.23        0.49        0.51        1.91        21   

Year Ended March 31, 2009

    10.37        0.25        (2.06     (1.81     (0.31            (0.50     (0.81     7.75        5,845        (17.72     0.50        0.51        2.81        31   

C Shares

                             

Year Ended March 31, 2013

    10.69        0.06 (b)      0.54        0.60        (0.12            (0.17     (0.29     11.00        14,106        5.69        1.20        1.21        0.56        29   

Year Ended March 31, 2012

    10.52        0.10 (b)      0.27        0.37        (0.18            (0.02     (0.20     10.69        15,028        3.60        1.20        1.22        0.95        38   

Year Ended March 31, 2011

    9.77        0.09 (b)      0.90        0.99        (0.24                   (0.24     10.52        15,252        10.29        1.20        1.23        0.95        33   

Year Ended March 31, 2010

    7.72        0.11        2.07        2.18        (0.13                   (0.13     9.77        15,431        28.31        1.19        1.21        1.21        21   

Year Ended March 31, 2009

    10.34        0.20        (2.07     (1.87     (0.25            (0.50     (0.75     7.72        12,405        (18.34     1.20        1.20        2.08        31   

 

(a) Total return excludes sales charge. Not annualized for periods less than one year.

 

(b) Per share data calculated using average shares outstanding method.

 

(c) Rounds to less than $0.005 per share.

 

(d) Realized and unrealized gain (loss) per share does not correlate to the aggregate of the net realized and unrealized gain (loss) in the Statements of Operations for the year ended March 31, 2012, primarily due to the timing of the sales and repurchases of the Fund’s shares in relation to fluctuating market values for the Fund’s portfolio.

 

(e) The Fund and its shareholders indirectly bear a pro rata share of the fees and expenses incurred by the underlying funds in which the Fund is invested. The expense ratios do not include such expense.

 

See Notes to Financial Statements.

 

75


NOTES TO FINANCIAL STATEMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

1. Organization

The RidgeWorth Funds (the “Trust”) is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is authorized to issue an unlimited number of shares without par value. The financial statements presented herein are those of the Aggressive Growth Stock Fund, International Equity Fund, International Equity Index Fund, Large Cap Growth Stock Fund, Large Cap Value Equity Fund, Mid-Cap Value Equity Fund, Select Large Cap Growth Stock Fund, Small Cap Growth Stock Fund, Small Cap Value Equity Fund, Aggressive Growth Allocation Strategy, Conservative Allocation Strategy, Growth Allocation Strategy and Moderate Allocation Strategy (each, a “Fund” and collectively, the “Funds”).

The Aggressive Growth Stock Fund, International Equity Fund and International Equity Index Fund offer I Shares and A Shares. The Large Cap Growth Stock Fund, Large Cap Value Equity Fund, Mid-Cap Value Equity Fund, Select Large Cap Growth Stock Fund, Small Cap Growth Stock Fund, Small Cap Value Equity Fund, Aggressive Growth Allocation Strategy, Conservative Allocation Strategy, Growth Allocation Strategy and Moderate Allocation Strategy offer I Shares, A Shares and C Shares.

The assets of each Fund are segregated and a shareholder’s interest is limited to the Fund in which shares are held. Each class of shares has identical rights and privileges except with respect to fees paid under the Distribution and Service Plan, voting rights on matters affecting a single class of shares and sales charges. The A Shares of the Funds (except Conservative Allocation Strategy) have a maximum sales charge on purchases of 5.75% as a percentage of original purchase price. Conservative Allocation Strategy A Shares have a maximum sales charge on purchases of 4.75% as a percentage of original purchase price. Certain purchases of A Shares will not be subject to a front-end sales charge but will be subject to a contingent deferred sales charge (“CDSC”) of 0.75%, if redeemed within two years of purchase. The deferred sales charge may be waived from time to time for certain broker-dealers that waive payment of compensation to them. The C Shares have a maximum CDSC of 1.00% as a percentage of either the original purchase price or the next calculated price after the Funds receive a redemption request, whichever is less, if shares are redeemed within one year of purchase. There is no sales charge on purchases of I Shares.

The Trust’s officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts with its vendors and others that provide for general indemnifications. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust. However, based on experience, the Trust expects that risk of loss to be remote.

 

2. Significant Accounting Policies

The following are significant accounting policies consistently followed by the Funds which are in conformity with accounting principles generally accepted in the U.S. (“GAAP”). Estimates and assumptions are required to be made regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ.

(a) Investment Valuation — Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. The prices are provided by independent pricing vendors approved by the Board of Trustees of the Trust (the “Board”).

The Funds, in accordance with GAAP, have adopted Financial Accounting Standards Board Codification Topic 820 (“ASC Topic 820”). ASC Topic 820 establishes a single definition of fair value, creates a three-tier hierarchy as a framework for measuring fair value based on inputs used to value the Funds’ investments, and requires additional disclosure about fair value. The hierarchy of inputs is summarized below:

 

  Ÿ   Level 1 — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities. Investments in underlying funds are valued at their NAV daily and are classified as Level 1 prices.

 

76


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

  Ÿ   Level 2 — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations.

 

  Ÿ   Level 3 — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the funds use one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the funds in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the funds in the absence of market information. Assumptions used by the funds due to the lack of observable inputs may significantly impact the resulting fair value and therefore the funds’ results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Funds use valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before each Fund calculates its net asset value, each of the Funds values these securities in accordance with the Pricing and Valuation Procedures approved by the Board. The Pricing and Valuation Procedures are performed and monitored by a Valuation Committee (the “Committee”) designated by the Board. Some of the more common reasons which may necessitate that a security be fair valued in accordance with the Pricing and Valuation Procedures include, but are not limited to: the security’s trading has been halted or suspended; the security has been de-listed from a national exchange; the security’s primary trading market is temporarily closed at a time when under normal conditions it would be open; or the security’s primary pricing source is not able or willing to provide a price. When a security is fair valued in accordance with the Pricing and Valuation Procedures, the Committee determines the value after taking into consideration relevant information reasonably available to the Committee. Under the Pricing and Valuation Procedures, such securities may be considered Level 2 or Level 3 in the fair value hierarchy. Short-term obligations with maturities of 60 days or less are valued at amortized cost, which approximates fair value and such securities are considered Level 2 in the fair value hierarchy. Certain Funds hold securities or other assets that are denominated in a foreign currency. The Funds will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time) when valuing such assets.

The assets of Aggressive Growth Allocation Strategy, Conservative Allocation Strategy, Growth Allocation Strategy and Moderate Allocation Strategy (the “Allocation Strategies”) consist of investments in other funds including affiliated funds (See Note 7), which are valued at their respective daily net asset values. Recognition of net investment income by the Allocation Strategies is affected by the timing of the declaration of dividends by the other Funds in which the Allocation Strategies invest. Also, in addition to the Allocation Strategies’ direct expenses, shareholders bear a proportionate share of the underlying Funds’ expenses.

 

77


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

The following is a summary of the inputs used in valuing the Funds’ assets and liabilities carried at fair value as of March 31, 2013:

 

     Level 1 -
Quoted
Prices
     Level 2 -
Other
Significant
Observable
Inputs
     Level 3 -
Significant
Unobservable
Inputs
    Total  

Aggressive Growth Stock Fund

          

Common Stocks1

     $19,185,915         $—         $—        $19,185,915   

Money Market Fund

     293,510                        293,510   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     19,479,425                        19,479,425   
  

 

 

    

 

 

    

 

 

   

 

 

 

International Equity Fund

          

Common Stocks1

     266,110,186                        266,110,186   

Preferred Stocks1

     4,186,555                        4,186,555   

Short-Term Investment

             10,253,825                10,253,825   

Money Market Fund

     3,597,807                        3,597,807   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     273,894,548         10,253,825                284,148,373   
  

 

 

    

 

 

    

 

 

   

 

 

 

International Equity Index Fund

          

Common Stocks1

     214,620,670         822,565         0 2      215,443,235   

Preferred Stocks1

     2,047,678                        2,047,678   

Rights1

                     0 2      0 2 

Exchange Traded Funds

     6,983,840                        6,983,840   

Trust

     50,651                        50,651   

Short-Term Investment

             9,873,673                9,873,673   

Money Market Fund

     13,093                        13,093   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     223,715,932         10,696,238         0 2      234,412,170   
  

 

 

    

 

 

    

 

 

   

 

 

 

Large Cap Growth Stock Fund

          

Common Stocks1

     256,179,906                        256,179,906   

Short-Term Investment

             1,226,275                1,226,275   

Money Market Fund

     271,009                        271,009   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     256,450,915         1,226,275                257,677,190   
  

 

 

    

 

 

    

 

 

   

 

 

 

Large Cap Value Equity Fund

          

Common Stocks1

     1,713,945,319                        1,713,945,319   

Short-Term Investment

             2,876,625                2,876,625   

Money Market Fund

     31,897,441                        31,897,441   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     1,745,842,760         2,876,625                1,748,719,385   
  

 

 

    

 

 

    

 

 

   

 

 

 

Mid-Cap Value Equity Fund

          

Common Stocks1

     2,579,768,037                        2,579,768,037   

Short-Term Investment

             48,345,725                48,345,725   

Money Market Fund

     112,247,598                        112,247,598   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     2,692,015,635         48,345,725                2,740,361,360   
  

 

 

    

 

 

    

 

 

   

 

 

 

Select Large Cap Growth Stock Fund

          

Common Stocks1

     33,579,861                        33,579,861   

Short-Term Investment

             257,450                257,450   

Money Market Fund

     1,504,823                        1,504,823   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     35,084,684         257,450                35,342,134   
  

 

 

    

 

 

    

 

 

   

 

 

 

Small Cap Growth Stock Fund

          

Common Stocks1

     166,583,551                        166,583,551   

Short-Term Investment

             18,787,977                18,787,977   

Money Market Fund

     784,973                        784,973   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     167,368,524         18,787,977                186,156,501   
  

 

 

    

 

 

    

 

 

   

 

 

 

Small Cap Value Equity Fund

          

Common Stocks1

     1,611,627,574                        1,611,627,574   

Money Market Fund

     14,870,383                        14,870,383   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     1,626,497,957                        1,626,497,957   
  

 

 

    

 

 

    

 

 

   

 

 

 

 

78


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Level 1 -
Quoted
Prices
     Level 2 -
Other
Significant
Observable
Inputs
     Level 3 -
Significant
Unobservable
Inputs
     Total  

Aggressive Growth Allocation Strategy

           

Equity Funds

     $16,039,519         $—         $—         $16,039,519   

Fixed Income Funds

     3,772,255                         3,772,255   

Exchange Traded Funds

     3,371,696                         3,371,696   

Money Market Fund

     256,581                         256,581   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

     23,440,051                         23,440,051   
  

 

 

    

 

 

    

 

 

    

 

 

 

Conservative Allocation Strategy

           

Equity Funds

     16,167,741                         16,167,741   

Fixed Income Funds

     38,475,387                         38,475,387   

Exchange Traded Funds

     4,609,898                         4,609,898   

Money Market Fund

     551,274                         551,274   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

     59,804,300                         59,804,300   
  

 

 

    

 

 

    

 

 

    

 

 

 

Growth Allocation Strategy

           

Equity Funds

     40,393,931                         40,393,931   

Fixed Income Funds

     17,243,466                         17,243,466   

Exchange Traded Funds

     8,546,060                         8,546,060   

Money Market Fund

     714,276                         714,276   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

     66,897,733                         66,897,733   
  

 

 

    

 

 

    

 

 

    

 

 

 

Moderate Allocation Strategy

           

Equity Funds

     76,513,152                         76,513,152   

Fixed Income Funds

     77,821,449                         77,821,449   

Exchange Traded Funds

     17,728,037                         17,728,037   

Money Market Fund

     1,864,534                         1,864,534   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

     $173,927,172         $—         $—         $173,927,172   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

1  Please see the Schedules of Portfolio Investments for Sector or Country Classifications.

 

2  As of March 31, 2013, the securities designated as Level 3 were fair valued using significant unobservable inputs under procedures adopted by the Board. Such valuations were based on a review of inputs such as, but not limited to, values of similar securities, company specific financial information, and company specific news. For each of these securities there were no changes in the valuation techniques used since the March 31, 2012 annual report. The Level 3 securities comprised less than 0.05% of net assets of the Fund. As such, the Level 3 roll forward and change in unrealized appreciation (depreciation) of Level 3 securities held at year end have not been presented.

The Funds’ policy is to disclose transfers between levels based on valuations at the end of the reporting period. Each portfolio may hold securities which are periodically fair valued in accordance with the Pricing and Valuation Procedures. This may result in movements between Level 1 and Level 2 throughout the period. At March 31, 2013, securities valued at $79,873 were transferred from Level 1 to Level 2 pursuant to the Pricing and Valuation Procedures for International Equity Index Fund.

(b) Security Transactions and Investment Income — Security transactions are accounted for on a trade date basis. Interest income, adjusted for amortization of premium and accretion of discount over the life of the securities, is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date or as soon as practicable after the Funds determine the existence of a dividend declaration after exercising due diligence. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Funds determine the existence of a dividend declaration after exercising reasonable due diligence. The cost of investments sold is determined by use of the specific identification method. To the extent any issuer defaults or a credit event occurs that impacts the issuer, the Funds may halt any additional interest income accruals and consider the Funds’ ability to realize interest accrued up to the date of default or credit event.

(c) Distributions to Shareholders — Distributions from net investment income of each of the Funds are declared quarterly to shareholders of record, and are paid quarterly, except for the International Equity Fund and the International Equity Index Fund for which distributions are declared and paid annually. Distributions of net realized capital gains, if any, are declared at least annually. Distributions to shareholders from each of the Funds are recorded on the ex-dividend date and are determined in accordance with income tax regulations, which may differ from GAAP.

 

79


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

(d) Expenses and Share Class Accounting — Expenses that are directly related to a specific Fund are charged to that Fund. Other operating expenses of the Trust are allocated pro-rata to the Funds on the basis of relative net assets or another appropriate basis. Investment income, common expenses, and realized/unrealized capital gains (losses) on investments are allocated to the various share classes of the Funds on the basis of relative daily net assets of each share class. Fees relating to a specific share class are charged directly to the share class.

(e) Foreign Currency Translation — Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates, as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time), on the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the respective dates of such transactions.

The Funds do not isolate that portion of the results of operations resulting from fluctuations in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments and foreign currencies.

Net realized foreign exchange gains or losses arise from sales of foreign currencies, including gains and losses on forward foreign currency contracts, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and the amount actually received.

(f) Derivative Instruments — Certain Funds may enter into derivative contracts for the purposes of pursuing their investment objectives, to use as a substitute for a purchase or sale of a position in the underlying assets and/or as part of a strategy designed to reduce exposure to other risks. The Funds did not hold any derivative instruments during the year ended March 31, 2013.

(g) Forward Foreign Currency Contracts — Certain Funds may enter into forward foreign currency contracts to hedge against foreign currency exchange rate risk on non-U.S. dollar denominated securities or to facilitate settlement of a foreign currency denominated portfolio transaction. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price with delivery and settlement at a future date. The contract is marked-to-market daily and the change in value is recorded by the Fund as an unrealized gain or loss. When a forward foreign currency contract is closed, through either delivery or offset by entering into another forward foreign currency contract, the Fund recognizes a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it is closed.

Forward foreign currency contracts involve elements of market risk in excess of the amounts reflected on the Statements of Assets and Liabilities. The Funds bear the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts. The Funds did not hold any forward foreign currency contracts during the year ended March 31, 2013.

(h) Securities Lending — Each Fund may lend portfolio securities to brokers, dealers and other financial organizations that meet capital and other credit requirements or other criteria established by the Board. These loans may not exceed either (i) 50% of the sum of the market value of all securities of a Fund and the market value of securities purchased with cash collateral or (ii) 33.33% of the total market value of all securities of a Fund. No Fund will lend portfolio securities to its investment adviser, subadviser, or its affiliates unless it has applied for and received specific authority to do so from the Securities and Exchange Commission. Loans of portfolio securities are required to be fully collateralized by cash, letters of credit or U.S. government securities. The initial value of the collateral must be at least 102% of the market value of the securities loaned, if the securities loaned are U.S. securities (105% for non-U.S. securities); and maintained in an amount equal to at least 100% (103% for non-U.S. securities) thereafter. However, due to market fluctuations during the day, the value of securities loaned on a particular day may exceed the value of collateral. On each business day, the amount of collateral is adjusted based on the prior day’s market fluctuations and the current day’s lending activity. Income from lending activity is determined by the amount of interest earned on collateral, less any amounts payable to the borrowers of the securities and the lending agent. Lending securities involves certain risks, including the risk that a Fund may be delayed or prevented from recovering the collateral if the borrower fails to return the securities. A fee will be obtained from the borrower if letters of credit or U.S. government securities are used as collateral.

 

80


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

The cash collateral received is aggregated in a joint account by the Funds, providing RidgeWorth Investments a pool of cash to invest in short-term investments that have a remaining maturity of 397 days or less. The Funds are joint participants with other affiliated funds of the Trust that are not presented in this report. At March 31, 2013, the cash collateral received by the Funds was pooled and invested in the following securities. Each of the Funds participating in securities lending at March 31, 2013 owned a pro-rata portion of the assets and liabilities listed below:

 

     Shares      Value  

JPMorgan U.S. Government Money Market Fund, Capital Shares, 0.01%

     93,304,017         $93,304,017   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.01%

     222,355,346         222,355,346   
     

 

 

 

Total Investments (Cost $315,659,363)

        315,659,363   

Amount due to Lending Agent

        (26,873
     

 

 

 

Net Investment Value

        $315,632,490   
     

 

 

 

The following Funds paid securities lending fees to the lending agent during the year ended March 31, 2013, which have been netted against Income from Securities Lending on the Statements of Operations. These fees are presented below:

 

Fund

   Fee  

Aggressive Growth Stock Fund

     $3,614   

International Equity Fund

     55,062   

International Equity Index Fund

     84,253   

Large Cap Growth Stock Fund

     1,432   

Large Cap Value Equity Fund

     5,678   

Mid-Cap Value Equity Fund

     602,883   

Select Large Cap Growth Stock Fund

     367   

Small Cap Growth Stock Fund

     102,469   

(i) Real Estate Investment Trusts — Certain Funds may own shares of real estate investment trusts (“REITs”) which report information on the source of their distributions annually. The Funds re-characterize distributions received from REIT investments based on information provided by the REITs into the following categories: ordinary income, long-term capital gains, and return of capital. If information is not available on a timely basis from the REITs, the re-characterization will be estimated based on available information which may include the previous year’s allocation. If new or additional information becomes available from the REITs at a later date, a re-characterization will be made in the following year. The Funds record as dividend income the amount re-characterized as ordinary income and as realized gain the amount re-characterized as long-term capital gain in the Statements of Operations, and the amount re-characterized as a return of capital as a reduction to the cost of investments in the Statements of Assets and Liabilities and in the Schedules of Portfolio Investments. These re-characterizations are reflected in the accompanying financial statements.

(j) Restricted Securities — Certain Funds’ investments are restricted as to resale. All of these restricted securities have been deemed liquid by the Funds’ Investment Adviser based upon procedures approved by the Board unless stated otherwise in the Funds’ Schedules of Portfolio Investments. As of March 31, 2013, the Funds’ did not have any restricted securities.

(k) Foreign Investment Risks — Certain Funds may invest in securities of foreign issuers in various countries. Investments in securities of foreign issuers carry certain risks not ordinarily associated with investments in securities of U.S. issuers. These risks include future political and economic developments, and the possible imposition of exchange controls or other foreign governmental laws and restrictions. In addition, with respect to certain countries, there is a possibility of expropriation of assets, confiscatory taxation, political or social instability or diplomatic developments, which could adversely affect investments in those countries. Emerging market countries are countries that the World Bank or the United Nations considers to be emerging or developing. Emerging markets may be more likely to experience political turmoil or rapid changes in market or economic conditions than more developed countries. In addition, the financial stability of issuers, including governments, in emerging market countries may be more precarious than in other countries. As a result, there may to be an increased risk of price volatility associated with a Fund’s investments in emerging market countries, which may be magnified by currency fluctuations relative to the U.S. dollar. Please refer to each Fund’s prospectus for additional risk that may be associated with the Funds.

 

81


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

(l) Federal and Other Taxes — It is the Funds’ policy to comply with the federal income and excise tax requirements of the Internal Revenue Code of 1986 (the “Code”), as amended, applicable to regulated investment companies. Accordingly, the Funds intend to distribute taxable income and net realized gains, if any, to shareholders in accordance with timing requirements imposed by the Code. Therefore, no federal or state income tax provision is required in the Funds’ financial statements.

Management has analyzed the Funds’ tax positions taken on income tax returns for all open tax years and has concluded that as of March 31, 2013, no provision for income tax is required in the Funds’ financial statements. The Funds’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

Under the applicable foreign tax laws, a withholding tax may be imposed on interest, dividends and capital gains at various rates.

(m) Reclassification — GAAP requires that certain components of net assets be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share.

 

3. Investment Adviser and Other Service Providers

Investment Adviser — RidgeWorth Investments (“Investment Adviser”), a majority-owned subsidiary of SunTrust Banks, Inc. (“SunTrust”), serves as the investment adviser to the Funds. The Trust and the Investment Adviser have entered into an investment advisory agreement (“Advisory Agreement”). The Investment Adviser is a money–management holding company with multiple style-focused investment boutiques (“Subadvisers”). The Subadvisers for each of the Funds, other than the Allocation Strategies which are not subadvised, are as follows: Ceredex Value Advisors LLC serves as the Subadviser for the Large Cap Value Equity Fund, Mid-Cap Value Equity Fund and Small Cap Value Equity Fund; Certium Asset Management LLC serves as the Subadviser for the International Equity Fund and International Equity Index Fund; Silvant Capital Management LLC serves as the Subadviser for the Large Cap Growth Stock Fund, Select Large Cap Growth Stock Fund and Small Cap Growth Stock Fund; and Zevenbergen Capital Investments LLC serves as the Subadviser for the Aggressive Growth Stock Fund. Zevenbergen Capital Investments LLC is a minority-owned subsidiary of the Investment Adviser. Each of the other Subadvisers is a wholly-owned subsidiary of the Investment Adviser. The Investment Adviser pays the Subadvisers out of the investment advisory fees it receives from the Funds.

Under the terms of the Advisory Agreement, the Funds are charged annual advisory fees, which are computed daily and paid monthly based upon average daily net assets. Effective August 1, 2012 the investment advisory fees changed as described in the table below. Breakpoints are used in computing the overall annual advisory fee. The maximum annual advisory fee is charged on average daily net assets of each Fund up to $500 million. A discount of 5% applies on the next $500 million, and a discount of 10% applies on amounts over $1 billion. Fee rates for the year ended March 31, 2013 were as follows:

 

Fund

  Maximum Annual
Advisory Fee
prior to

August 1, 2012
    Maximum Annual
Advisory Fee
as of
August 1, 2012
    Discounted Annual
Advisory Fee
    Advisory Fees
Waived/
Expense
Reimbursed
    Net Annual
Fees Paid*
 

Aggressive Growth Stock Fund

    1.10     0.85     0.95     (0.01 )%      0.94

International Equity Fund

    1.15        0.90        0.98               0.98   

International Equity Index Fund

    0.50        0.45        0.47        (0.03     0.44   

Large Cap Growth Stock Fund

    0.97        0.70        0.80               0.80   

Large Cap Value Equity Fund

    0.80        0.70        0.69        (0.02     0.67   

Mid-Cap Value Equity Fund

    1.00        0.75        0.77        (0.01     0.76   

Select Large Cap Growth Stock Fund

    0.85        0.70        0.75               0.75   

Small Cap Growth Stock Fund

    1.15        0.85        0.96               0.96   

Small Cap Value Equity Fund

    1.15        0.85        0.90               0.90   

Aggressive Growth Allocation Strategy

    0.10        0.10        0.10        (0.38       

Conservative Allocation Strategy

    0.10        0.10        0.10        (0.11       

Growth Allocation Strategy

    0.10        0.10        0.10        (0.13       

Moderate Allocation Strategy

    0.10        0.10        0.10        (0.02     0.08   

 

* Aggregate annual fees paid to the Investment Adviser, who pays the applicable Subadviser a portion of the fees for its services to the Funds.

Amounts designated as “—” are 0%.

 

82


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

The Investment Adviser and the applicable Subadviser have contractually agreed, until at least August 1, 2013, to waive fees and/or reimburse expenses for each of the following Funds to the extent necessary to maintain each Fund’s Total Annual Fund Operating Expenses (excluding, as applicable, taxes, brokerage commissions, substitute dividend expenses on securities sold short, interest expense, extraordinary expenses and indirect expenses attributable to the Fund’s investment in other funds), expressed as a percentage of average daily net assets, as noted below:

 

     Contractual
Expense
Limitations
August 1, 2012 – March 31,  2013
 

Fund

   I Shares     A Shares     C Shares  

Aggressive Growth Stock Fund

     1.29     1.50    

International Equity Fund

     1.37        1.67          

International Equity Index Fund

     0.76        1.02          

Large Cap Growth Stock Fund

     1.16        1.40        2.10   

Large Cap Value Equity Fund

     0.93        1.18        1.88   

Mid-Cap Value Equity Fund

     1.14        1.35        1.95   

Select Large Cap Growth Stock Fund

     1.09        1.39        2.09   

Small Cap Growth Stock Fund

     1.33        1.60        2.25   

Small Cap Value Equity Fund

     1.31        1.55        2.15   

Aggressive Growth Allocation Strategy

     0.50        0.70        1.30   

Conservative Allocation Strategy

     0.30        0.60        1.30   

Growth Allocation Strategy

     0.50        0.70        1.30   

Moderate Allocation Strategy

     0.50        0.70        1.30   

For the period April 1, 2012 to July 31, 2012 the Contractual Expense Limitations were as follows:

 

Fund

   I Shares      A Shares      C Shares  

Aggressive Growth Allocation Strategy

     0.20         0.50         1.20   

Conservative Allocation Strategy

     0.20         0.50         1.20   

Growth Allocation Strategy

     0.20         0.50         1.20   

Moderate Allocation Strategy

     0.20         0.50         1.20   

Under the Expense Limitation Agreement, the Investment Adviser may retain the difference between the Contractual Expense Limitation identified above and the actual total expenses to recapture any of its prior contractual waivers or reimbursements at a date not to exceed three years from the date of such waivers or reimbursements. Such repayments shall be made monthly, but only to the extent that such repayments would not cause the annualized total expense ratio to exceed the contractual expense limitation in place at that time. During the year ended March 31, 2013, the Investment Adviser did not recapture any of its prior contractual waivers or reimbursements. As of March 31, 2013, the cumulative potential recoupments recoverable pursuant to this agreement are as follows:

 

     Expires  

Fund

   2014      2015      2016  

Aggressive Growth Stock Fund

     $—         $—         $7,685   

International Equity Index Fund

                     83,256   

Large Cap Growth Stock Fund

                     373   

Large Cap Value Equity Fund

                     275,540   

Mid-Cap Value Equity Fund

                     174,546   

Select Large Cap Growth Stock Fund

                     71   

Small Cap Growth Stock Fund

                     24   

Small Cap Value Equity Fund

                     2,051   

Aggressive Growth Allocation Strategy

     88,530         63,460         87,752   

Conservative Allocation Strategy

     93,778         75,713         65,489   

Growth Allocation Strategy

     73,522         42,458         86,203   

Moderate Allocation Strategy

     43,102         34,791         36,646   

Amounts designated as “—” are $0.

 

83


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Fund Accounting, Custody, Administration, and Transfer Agency — State Street Bank and Trust Company (“State Street Bank”) serves as the fund accounting agent and custodian for the Trust pursuant to a Master Custodian Agreement. The custodian is responsible for the safekeeping of the assets of the Funds and the fund accounting agent is responsible for calculating the Funds’ net asset values. State Street Bank, as the Funds’ custodian and fund accounting agent, is paid on the basis of net assets and transaction costs of the Funds. State Street Bank also serves as the administrator for the Trust pursuant to an Administration Agreement. State Street Bank, as the Funds’ administrator, is paid on the basis of net assets of the RidgeWorth Funds which are allocated among the series of the Trust, on the basis of relative net assets.

Boston Financial Data Services, Inc. (“BFDS”) serves as the transfer agent to the Trust pursuant to a Transfer Agency and Service Agreement. BFDS is paid on the basis of net assets, per account fees and certain transaction costs.

Custodian Credits — The Funds have an agreement with their custodian under which custody fees may be reduced by balance credits. These credits, if any, are shown as a reduction of total expenses on the Statements of Operations.

Distribution — The Trust and RidgeWorth Distributors LLC (the “Distributor”) are parties to a Distribution Agreement.

In addition, with respect to the A Shares and C Shares, the Distributor receives amounts, pursuant to a Distribution and Service Plan, based upon average daily net assets of each respective class, which are computed daily and paid monthly. For the year ended March 31, 2013, the Distributor did not retain any of the front end sales charges assessed on the sale of Class A Shares. For the year ended March 31, 2013, the Distributor did not retain any commissions from contingent deferred sales charges assessed on the redemption of Class C Shares. These fees, expressed as a percentage of average daily net assets, for the year ended March 31, 2013, were as follows:

 

Fund

   A Share
Distribution
and Service
Fee
    C Share
Distribution
and Service
Fee
 

Aggressive Growth Stock Fund

     0.30     N/A

International Equity Fund

     0.30        N/A   

International Equity Index Fund

     0.30        N/A   

Large Cap Growth Stock Fund

     0.30        1.00   

Large Cap Value Equity Fund

     0.30        1.00   

Mid-Cap Value Equity Fund

     0.30        1.00   

Select Large Cap Growth Stock Fund

     0.30        1.00   

Small Cap Growth Stock Fund

     0.30        1.00   

Small Cap Value Equity Fund

     0.30        1.00   

Aggressive Growth Allocation Strategy

     0.30        1.00   

Conservative Allocation Strategy

     0.30        1.00   

Growth Allocation Strategy

     0.30        1.00   

Moderate Allocation Strategy

     0.30        1.00   

Shareholder Servicing Fees — Effective August 1, 2012, the Funds have adopted a shareholder services fee for the I Shares and A Shares. Each of these Funds (or class thereof, as the case may be) may pay to financial institutions that provide certain services to the Funds a services fee. The services may include, among others, providing general shareholder liaison services (including responding to shareholder inquiries), providing information on shareholder investments, and establishing and maintaining shareholder accounts and records. Prior to August 1, 2012, the

 

84


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

International Equity Index Fund had adopted a shareholder services fee for I Shares and A Shares paying a rate of up to 0.15% of the average daily net assets of the classes. The Funds may pay a shareholder services fee up to an annual rate of average daily net assets of a Fund’s I Shares or A Shares as follows:

 

Fund

   Maximum Shareholder
Servicing Fee for
I Shares and
A Shares Effective
August 1, 2012
 

Aggressive Growth Stock Fund

     0.40

International Equity Fund

     0.40   

International Equity Index Fund

     0.40   

Large Cap Growth Stock Fund

     0.40   

Large Cap Value Equity Fund

     0.40   

Mid-Cap Value Equity Fund

     0.40   

Select Large Cap Growth Stock Fund

     0.40   

Small Cap Growth Stock Fund

     0.40   

Small Cap Value Equity Fund

     0.40   

Aggressive Growth Allocation Strategy

     0.40   

Conservative Allocation Strategy

     0.20   

Growth Allocation Strategy

     0.40   

Moderate Allocation Strategy

     0.40   

Other Fees — The Investment Adviser provides compliance and certain administrative services to the Trust to ensure compliance with applicable laws and regulations. For the year ended March 31, 2013, the Investment Adviser was paid $1,475,865 for these services. Foreside Compliance Services, LLC (“FCS”), an affiliate of the Distributor, provided Chief Compliance Officer Support Services until May 31, 2012. FCS continues to provide an Anti-Money Laundering Officer/ Identity Theft Prevention Officer (“AML Officer”) to the Trust. Foreside Management Services, LLC (“FMS”), an affiliate of the Distributor, provided a Principal Financial Officer (“PFO”) and Treasurer to the Trust until August 30, 2012. Fees paid to FCS and FMS pursuant to these agreements are reflected on the Statements of Operations as a component of the caption “Other Fees”.

Neither FCS nor FMS, nor any of their officers or employees who serve as an officer of the Trust, has any role in determining the Funds’ investment policies or which securities are to be purchased or sold by the Trust or its Funds. Certain officers or employees of FCS and FMS are also officers of the Trust.

Certain officers of the Trust are also officers or employees of the Investment Adviser, FCS, FMS and/or the Administrator. Such officers receive no fees from the Trust for serving as officers of the Trust.

Each of the Trustees receives an annual retainer and an additional fee for each meeting attended, plus reimbursement for certain expenses incurred. Trustees receive an additional fee for attendance at committee meetings. Information on the aggregate remuneration paid to the Trustees can be found on the Statements of Operations.

 

4. Capital Stock Transactions

Transactions in capital shares and dollars for the years ended March 31 were as follows:

 

    Shares
Issued
    Shares
Issued-
Merger
    Shares
Reinvested
    Shares
Redeemed
    Net
Increase
(Decrease)
in Shares
Outstanding
    Proceeds
from Shares
Issued
    Issued-
Merger
    Dividends
Reinvested
    Cost of Shares
Redeemed
    Change in
Net Assets
from Capital
Transactions
 

Aggressive Growth Stock Fund

                   

I Shares

                   

3/31/2013

    788,384        557,942        33,966        (5,894,902     (4,514,610     $11,308,991        $8,812,408        $516,966        $(87,762,071     $(67,123,706

3/31/2012

    1,626,118                      (4,278,976     (2,652,858     24,729,051                      (61,567,383     (36,838,332

A Shares

                   

3/31/2013

    59,421        211,048        8,544        (287,462     (8,449     850,407        3,249,658        126,281        (4,108,929     117,417   

3/31/2012

    96,875                      (70,855     26,020        1,408,939                      (1,013,170     395,769   

 

85


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

    Shares
Issued
    Shares
Issued-
Merger
    Shares
Reinvested
    Shares
Redeemed
    Net
Increase
(Decrease)
in Shares
Outstanding
    Proceeds
from Shares
Issued
    Issued-
Merger
    Dividends
Reinvested
    Cost of Shares
Redeemed
    Change in
Net Assets
from Capital
Transactions
 

International Equity Fund

  

I Shares

                   

3/31/2013

    304,538               416,386        (1,649,890     (928,966     $3,324,959        $—        $4,701,003        $(18,175,126     $(10,149,164

3/31/2012

    5,596,283               496,938        (3,450,251     2,642,970        58,713,472               4,596,680        (36,444,961     26,865,191   

A Shares

                   

3/31/2013

    46,148               6,677        (173,706     (120,881     456,522               74,655        (1,832,975     (1,301,798

3/31/2012

    16,937               11,129        (139,420     (111,354     190,384               101,939        (1,450,095     (1,157,772

International Equity Index Fund

  

I Shares

                   

3/31/2013

    4,332,693               1,348,589        (16,251,788     (10,570,506     48,282,851               15,845,914        (189,428,895     (125,300,130

3/31/2012

    6,420,490               1,268,810        (13,983,334     (6,294,034     76,107,924               12,916,486        (168,138,240     (79,113,830

A Shares

                   

3/31/2013

    40,234               9,776        (48,644     1,366        462,359               114,083        (553,606     22,836   

3/31/2012

    8,711               8,483        (131,926     (114,732     101,387               85,763        (1,641,750     (1,454,600

Large Cap Growth Stock Fund

  

I Shares

                   

3/31/2013

    8,762,312        3,492,724        6,542,464        (18,751,521     45,979        79,445,415        28,329,532        60,617,967        (182,678,497     (14,285,583

3/31/2012

    5,811,589                      (20,795,612     (14,984,023     64,833,009                      (233,393,457     (168,560,448

A Shares

                   

3/31/2013

    158,522        2,081,782        2,317,669        (616,140     3,941,833        1,681,719        14,767,859        18,358,150        (6,317,343     28,490,385   

3/31/2012

    88,664                      (587,259     (498,595     942,481                      (6,211,143     (5,268,662

C Shares

                   

3/31/2013

    132,952        2,887,824        1,226,477        (358,038     3,889,215        1,079,328        16,103,232        7,826,769        (3,007,801     22,001,528   

3/31/2012

    25,221                      (240,228     (215,007     231,204                      (2,234,105     (2,002,901

Large Cap Value Equity Fund

  

I Shares

                   

3/31/2013

    25,077,003               1,207,277        (78,972,114     (52,687,834     354,165,533               16,765,852        (1,086,885,991     (715,954,606

3/31/2012

    69,828,153               1,587,865        (27,326,887     44,089,131        879,686,571               19,627,732        (347,454,062     551,860,241   

A Shares

                   

3/31/2013

    5,227,404               233,944        (4,154,538     1,306,810        72,308,180               3,234,975        (57,728,124     17,815,031   

3/31/2012

    13,741,624               176,882        (2,820,367     11,098,139        171,860,902               2,178,699        (35,196,794     138,842,807   

C Shares

                   

3/31/2013

    27,761               9,206        (235,035     (198,068     386,924               125,947        (3,174,972     (2,662,101

3/31/2012

    108,014               7,922        (269,169     (153,233     1,371,194               95,112        (3,348,315     (1,882,009

Mid-Cap Value Equity Fund

  

I Shares

                   

3/31/2013

    62,732,655               1,925,608        (50,367,052     14,291,211        719,919,716               22,073,312        (555,762,209     186,230,819   

3/31/2012

    85,512,061        1,410,657        14,126,079        (84,002,281     17,046,516        959,791,303        18,547,460        135,070,674        (920,320,239     193,089,198   

A Shares

                   

3/31/2013

    11,406,198               461,060        (13,492,122     (1,624,864     129,440,290               5,246,696        (150,886,423     (16,199,437

3/31/2012

    38,483,179        428,187        4,089,224        (23,508,479     19,492,111        421,347,757        5,590,801        38,636,252        (245,373,665     220,201,145   

C Shares

                   

3/31/2013

    995,372               28,006        (701,152     322,226        11,399,374               318,911        (7,728,920     3,989,365   

3/31/2012

    1,858,431        299,574        314,555        (538,556     1,934,004        20,487,726        3,865,760        2,918,706        (5,747,555     21,524,637   

Select Large Cap Growth Stock Fund

  

I Shares

                   

3/31/2013

    37,628               190,215        (509,604     (281,761     1,203,212               4,850,470        (15,353,795     (9,300,113

3/31/2012

    178,231               30,988        (1,670,169     (1,460,950     5,493,891               859,924        (51,071,793     (44,717,978

A Shares

                   

3/31/2013

    83               6,442        (1,257     5,268        2,453               160,161        (33,901     128,713   

3/31/2012

    2,726               648        (1,223     2,151        81,352               17,670        (35,232     63,790   

C Shares

                   

3/31/2013

    4,832               140,854        (78,515     67,171        135,280               3,029,774        (2,037,254     1,127,800   

3/31/2012

    3,845               16,543        (113,852     (93,464     105,263               406,292        (3,176,044     (2,664,489

 

86


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

    Shares
Issued
    Shares
Issued-
Merger
    Shares
Reinvested
    Shares
Redeemed
    Net
Increase
(Decrease)
in Shares
Outstanding
    Proceeds
from Shares
Issued
    Issued-
Merger
    Dividends
Reinvested
    Cost of Shares
Redeemed
    Change in
Net Assets
from Capital
Transactions
 

Small Cap Growth Stock Fund

  

I Shares

                   

3/31/2013

    2,798,661               2,789,975        (11,396,095     (5,807,459     $45,926,399        $—        $42,259,903        $(180,400,770     $(92,214,468

3/31/2012

    6,885,739                      (15,121,362     (8,235,623     112,609,048                      (243,856,993     (131,247,945

A Shares

                   

3/31/2013

    60,266               149,202        (122,170     87,298        903,912               2,088,761        (1,867,429     1,125,244   

3/31/2012

    46,254                      (182,012     (135,758     696,531                      (2,724,957     (2,028,426

C Shares

                   

3/31/2013

    4,954               143,157        (158,324     (10,213     64,955               1,652,832        (2,090,516     (372,729

3/31/2012

    36,444                      (139,651     (103,207     462,006                      (1,853,792     (1,391,786

Small Cap Value Equity Fund

  

I Shares

                   

3/31/2013

    29,517,746               3,934,578        (27,033,313     6,419,011        394,490,003               54,130,475        (368,373,204     80,247,274   

3/31/2012

    37,845,538               4,784,661        (26,796,563     15,833,636        502,225,850               57,746,278        (354,015,396     205,956,732   

A Shares

                   

3/31/2013

    2,673,326               502,626        (3,692,806     (516,854     36,010,599               6,803,700        (49,797,465     (6,983,166

3/31/2012

    6,644,955               624,588        (2,029,258     5,240,285        88,266,630               7,388,778        (26,759,201     68,896,207   

C Shares

                   

3/31/2013

    242,514               96,752        (786,699     (447,433     3,113,186               1,253,054        (10,175,062     (5,808,822

3/31/2012

    867,408               143,037        (405,163     605,282        11,163,851               1,616,134        (5,072,204     7,707,781   

Aggressive Growth Allocation Strategy

  

I Shares

                   

3/31/2013

    350,315               21,814        (531,727     (159,598     2,953,940               182,013        (4,430,143     (1,294,190

3/31/2012

    775,231               45,062        (1,212,010     (391,717     6,050,805               332,307        (9,645,702     (3,262,590

A Shares

                   

3/31/2013

    31,340               4,364        (163,451     (127,747     259,482               36,257        (1,351,281     (1,055,542

3/31/2012

    139,029               7,235        (102,089     44,175        1,123,365               52,911        (805,786     370,490   

C Shares

                   

3/31/2013

    4,422               431        (21,962     (17,109     35,875               3,554        (180,543     (141,114

3/31/2012

    4,171               1,016        (33,429     (28,242     32,250               7,268        (268,055     (228,537

Conservative Allocation Strategy

  

I Shares

                   

3/31/2013

    1,022,598               50,141        (648,506     424,233        12,555,695               613,108        (7,992,721     5,176,082   

3/31/2012

    1,479,451               41,087        (829,810     690,728        17,650,865               480,880        (9,940,112     8,191,633   

A Shares

                   

3/31/2013

    275,304               45,505        (952,163     (631,354     3,384,054               556,374        (11,592,246     (7,651,818

3/31/2012

    1,571,627               32,743        (314,989     1,289,381        18,713,370               383,291        (3,788,403     15,308,258   

C Shares

                   

3/31/2013

    399,970               26,155        (206,682     219,443        4,893,645               317,879        (2,528,423     2,683,101   

3/31/2012

    530,270               17,513        (135,393     412,390        6,296,542               202,612        (1,618,695     4,880,459   

Growth Allocation Strategy

  

I Shares

                   

3/31/2013

    1,299,488               69,802        (1,834,564     (465,274     13,790,952               737,347        (19,498,083     (4,969,784

3/31/2012

    1,698,468               119,766        (1,695,316     122,918        17,146,643               1,156,952        (17,156,100     1,147,495   

A Shares

                   

3/31/2013

    58,650               11,031        (316,332     (246,651     624,908               116,319        (3,380,801     (2,639,574

3/31/2012

    202,080               19,155        (214,430     6,805        2,051,893               183,884        (2,141,808     93,969   

C Shares

                   

3/31/2013

    19,707               1,761        (53,088     (31,620     207,384               18,512        (555,888     (329,992

3/31/2012

    21,820               3,521        (53,175     (27,834     222,213               33,212        (524,127     (268,702

Moderate Allocation Strategy

  

I Shares

                   

3/31/2013

    3,122,940               413,981        (3,326,842     210,079        33,410,361               4,414,077        (36,008,340     1,816,098   

3/31/2012

    3,726,374               341,449        (3,265,148     802,675        38,576,165               3,435,555        (33,442,177     8,569,543   

A Shares

                   

3/31/2013

    98,860               54,504        (277,543     (124,179     1,059,492               580,399        (2,975,776     (1,335,885

3/31/2012

    812,948               38,473        (318,697     532,724        8,378,039               386,242        (3,275,586     5,488,695   

C Shares

                   

3/31/2013

    74,145               32,577        (230,845     (124,123     792,237               345,909        (2,449,474     (1,311,328

3/31/2012

    145,884               25,304        (214,543     (43,355     1,498,055               251,332        (2,213,144     (463,757

 

87


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

5. Investment Transactions

The cost of security purchases and the proceeds from sales and maturities of securities, excluding securities maturing less than one year from acquisition and U.S. government securities, for the year ended March 31, 2013 were as follows:

 

Fund

   Purchases      Sales and
Maturities
 

Aggressive Growth Stock Fund

     $15,397,932         97,753,294   

International Equity Fund

     133,981,825         147,566,974   

International Equity Index Fund

     72,372,234         205,230,932   

Large Cap Growth Stock Fund

     105,286,467         228,021,432   

Large Cap Value Equity Fund

     1,401,069,758         1,608,377,480   

Mid-Cap Value Equity Fund

     2,871,809,792         2,631,050,358   

Select Large Cap Growth Stock Fund

     22,996,772         38,605,398   

Small Cap Growth Stock Fund

     117,939,620         260,821,053   

Small Cap Value Equity Fund

     461,902,750         386,000,725   

Aggressive Growth Allocation Strategy

     7,798,872         9,586,681   

Conservative Allocation Strategy

     23,410,309         23,519,576   

Growth Allocation Strategy

     13,253,670         20,972,168   

Moderate Allocation Strategy

     49,876,771         52,128,519   

 

6. Federal Income Tax Information

The following information is presented on an income tax basis and takes into consideration differences between amounts for financial statement and income tax purposes. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature (i.e., foreign currency transactions and return of capital on securities) such amounts are reclassified within the composition of net assets based on their U.S. federal tax-basis treatment; temporary differences do not require reclassification.

The cost of investments and aggregate gross unrealized appreciation and depreciation for securities held by the Funds at March 31, 2013 were as follows:

 

Fund

   Tax
Cost
     Aggregate
Gross
Unrealized
Appreciation
     Aggregate
Gross
Unrealized
(Depreciation)
    Net
Unrealized
Appreciation
(Depreciation)
 

Aggressive Growth Stock Fund

     $9,459,961         $10,165,303         $(145,839     $10,019,464   

International Equity Fund

     245,963,832         43,247,861         (5,063,320     38,184,541   

International Equity Index Fund

     155,305,689         87,813,556         (8,707,075     79,106,481   

Large Cap Growth Stock Fund

     189,826,719         68,700,710         (850,239     67,850,471   

Large Cap Value Equity Fund

     1,397,180,335         353,283,956         (1,744,906     351,539,050   

Mid-Cap Value Equity Fund

     2,443,545,277         320,483,635         (23,667,552     296,816,083   

Select Large Cap Growth Stock Fund

     28,023,883         7,521,147         (202,896     7,318,251   

Small Cap Growth Stock Fund

     146,762,413         43,685,510         (4,291,422     39,394,088   

Small Cap Value Equity Fund

     1,300,012,448         356,469,337         (29,983,828     326,485,509   

Aggressive Growth Allocation Strategy

     21,454,842         2,824,211         (839,002     1,985,209   

Conservative Allocation Strategy

     58,001,959         2,882,601         (1,080,260     1,802,341   

Growth Allocation Strategy

     60,723,811         8,165,297         (1,991,375     6,173,922   

Moderate Allocation Strategy

     161,689,721         16,673,596         (4,436,145     12,237,451   

 

88


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

The tax character of distributions paid to shareholders during the year ended March 31, 2013 was as follows:

 

     Distributions paid from                

Fund

   Net
Investment
Income**
     Net Long
Term Capital
Gains
     Return
of
Capital
     Total
Distributions
Paid*
 

Aggressive Growth Stock Fund

     $—         $2,009,391         $—         $2,009,391   

International Equity Fund

     5,025,278                         5,025,278   

International Equity Index Fund

     10,553,137         6,132,178                 16,685,315   

Large Cap Growth Stock Fund

     1,385,081         109,806,620                 111,191,701   

Large Cap Value Equity Fund

     26,153,792                         26,153,792   

Mid-Cap Value Equity Fund

     31,008,758                         31,008,758   

Select Large Cap Growth Stock Fund

             8,493,940                 8,493,940   

Small Cap Growth Stock Fund

             51,737,625                 51,737,625   

Small Cap Value Equity Fund

     23,854,316         40,231,084                 64,085,400   

Aggressive Growth Allocation Strategy

     229,343                         229,343   

Conservative Allocation Strategy

     1,277,134         501,787                 1,778,921   

Growth Allocation Strategy

     877,476                         877,476   

Moderate Allocation Strategy

     2,799,033         2,686,735                 5,485,768   

 

* Total distributions paid are recognized on a when declared basis for the year ended March 31, 2013.

 

** Net Investment income includes taxable market discount income and net short-term capital gains, if any.

Amounts designated as “—” are $0 or have been rounded to $0.

The tax character of distributions paid to shareholders during the year ended March 31, 2012 were as follows:

 

     Distributions paid from                

Fund

   Net
Investment
Income**
     Net Long
Term Capital
Gains
     Return
of
Capital
     Total
Distributions
Paid*
 

International Equity Fund

     $5,156,759         $—         $—         $5,156,759   

International Equity Index Fund

     14,995,618                         14,995,618   

Large Cap Value Equity Fund

     28,731,199                         28,731,199   

Mid-Cap Value Equity Fund

     176,422,446         25,657,958                 202,080,404   

Select Large Cap Growth Stock Fund

             1,537,424                 1,537,424   

Small Cap Value Equity Fund

     23,492,580         46,011,223                 69,503,803   

Aggressive Growth Allocation Strategy

     406,361                         406,361   

Conservative Allocation Strategy

     1,030,834         342,249                 1,373,083   

Growth Allocation Strategy

     1,385,270                         1,385,270   

Moderate Allocation Strategy

     3,953,227         242,796                 4,196,023   

 

* Total distributions paid are recognized on a when declared basis for the year ended March 31, 2012.

 

** Net investment income includes taxable market discount income and net short-term capital gains, if any.

Amounts designated as “—” are $0 or have been rounded to $0.

As of March 31, 2013, the components of distributable earnings (accumulated losses) on a federal income tax basis were as follows:

 

Fund

   Undistributed
Ordinary
Income
     Undistributed
Long Term
Capital Gains
     Net Unrealized
Appreciation**
     Loss
Carryforwards
And Deferrals
    Total  

Aggressive Growth Stock Fund

     $ —         $911,947         $10,019,464         $(4,086,617     $6,844,794   

International Equity Fund

     1,108,983                 38,201,971         (291,232,150     (251,921,196

International Equity Index Fund

     2,880,222         22,829,404         79,101,385                104,811,011   

Large Cap Growth Stock Fund

     432,258         19,467,426         67,850,471         (6,559,495     81,190,660   

Large Cap Value Equity Fund

     11,719,010         74,818,189         351,539,050                438,076,249   

Mid-Cap Value Equity Fund

     160,740,166         12,326,520         296,816,083                469,882,769   

Select Large Cap Growth Stock Fund

             2,189,121         7,318,252         (171,799     9,335,574   

Small Cap Growth Stock Fund

     2,718,205         4,084,933         39,394,089                46,197,227   

Small Cap Value Equity Fund

     8,510,324         24,400,936         326,485,688                359,396,948   

 

89


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Fund

   Undistributed
Ordinary
Income
     Undistributed
Long Term
Capital Gains
     Net Unrealized
Appreciation**
     Loss
Carryforwards
And Deferrals
     Total  

Aggressive Growth Allocation Strategy

     $5,342         $2,296,470         $1,985,209         $—         $4,287,021   

Conservative Allocation Strategy

     141,819         2,351,443         1,802,341                 4,295,603   

Growth Allocation Strategy

     56,060         5,935,728         6,173,922                 12,165,710   

Moderate Allocation Strategy

     310,429         11,065,744         12,237,451                 23,613,624   

 

** The differences between book-basis and tax-basis unrealized appreciation is attributable primarily to: tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains/losses on investments in passive foreign investment companies, return of capital adjustments, forward contracts marked to market and partnership basis adjustments.

The Funds utilize the provisions of the federal income tax laws that provide for the carryforward of capital losses from prior years, offsetting such losses against any future realized capital gains. Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), net capital losses recognized in taxable years beginning after December 22, 2010 (“post-enactment”), may be carried forward indefinitely, and their character is retained as short-term and/or long-term losses. Previously, net capital losses were carried forward for eight years and treated as short-term losses (“pre-enactment”). The Act requires that post-enactment net capital losses be used before pre-enactment net capital losses.

As of March 31, 2013, the post-enactment accumulated short-term and long-term capital loss carryforwards were as follows:

 

Fund

   Short Term      Long Term      Total  

Aggressive Growth Stock Fund*

     $2,132,646         $—         $2,132,646   

International Equity Fund

     2,478,067                 2,478,067   

 

* Of the $2,750,901 of capital loss carryforwards acquired on April 27, 2012, in the merger with the RidgeWorth Emerging Growth Stock Fund and subject to limitations as a result of this acquisition, $618,255 of capital loss carryforward was utilized. The remaining $2,132,646 has no expiration date.

As of March 31, 2013, the pre-enactment accumulated capital loss carryforwards and expiration dates were as follows:

 

     Expires  

Fund

   2017      2018      Total  

Aggressive Growth Stock Fund*

     $1,857,837         $—         $1,857,837   

International Equity Fund

     57,407,718         231,346,365         288,754,083   

Large Cap Growth Stock Fund**

     6,559,495                 6,559,495   

 

* Of the $20,295,452 of capital loss carryforwards acquired on April 27, 2012, in the merger with the RidgeWorth Emerging Growth Stock Fund and subject to limitations as a result of this acquisition, $18,437,615 was written off as capital loss carryforward lost unused. The remaining $1,857,837 will expire in 2017.

 

** Of the $136,363,735 of capital loss carryforwards acquired on March 1, 2013, in the merger with the RidgeWorth Large Cap Core Growth Stock Fund and subject to limitations as a result of this acquisition, $129,669,456 was written off as capital loss carryforward lost unused, $134,784 was utilized, and the remaining $6,559,495, will expire in 2017.

Amounts designated as “—” are $0.

During the year ended March 31, 2013, the following Funds utilized capital loss carryforwards as follows:

 

Fund

   Amount  

Aggressive Growth Stock Fund

     $20,867,404   

Large Cap Growth Stock Fund

     134,784   

Large Cap Value Equity Fund

     71,161,454   

Mid-Cap Value Equity Fund

     57,099,581   

Aggressive Growth Allocation Strategy

     365,462   

Growth Allocation Strategy

     579,855   

Net capital losses incurred after October 31, and within the taxable year, are deemed to arise on the first business day of the Funds’ next taxable year. During the year ended March 31, 2013, the following Funds had net capital losses:

 

Fund

   Short Term  

Select Large Cap Growth Stock Fund

     $134,783   

 

90


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Pursuant to federal income tax rules applicable to regulated investment companies, the Funds may elect to treat certain capital losses between November 1 and March 31 and late year ordinary losses, (i) ordinary losses between January 1 and March 31, and (ii) specified ordinary and currency losses between November 1 and March 31, as occurring on the first day of the following tax year. For the year ended March 31, 2013, any amount of losses elected within the tax return will not be recognized for federal income tax purposes until April 1, 2013.

For the year ended March 31, 2013 the following Funds had net realized loss attributed to redemption in-kind transactions:

 

Fund

   Amount  

Large Cap Value Equity Fund

     $5,949,499   

Mid-Cap Value Equity Fund

     15,523,169   

Small Cap Value Equity Fund

     8,248,498   

 

7. Investments in Affiliated Issuers

Affiliated holdings are holdings in mutual funds which are managed by the Investment Adviser or an affiliate of the Investment Adviser or which are distributed by an affiliate of the Funds’ distributor. With respect to each Fund, the Investment Adviser was paid an investment advisory fee by the affiliated investments listed beneath its name below. Investments in affiliated issuers at March 31, 2013 were as follows:

 

Name of Affiliated Issuer

  Share
Balance at
March 31,
2012
    Purchases     Sales     Share
Balance at
March 31,
2013
    Value at
March 31,
2013
    Dividend
Income
    Realized
Gain
Distributions
    Net
Realized
Gain (Loss)
 

Aggressive Growth Allocation Strategy

               

RidgeWorth Aggressive Growth Stock Fund

    58,984        1,659        57,815        2,828        $44,110        $—        $1,679        $258,708   

RidgeWorth Corporate Bond Fund

           37,409        36,561        848        7,886        4,769        10,709        (11,340

RidgeWorth High Income Fund

           35,463               35,463        259,590        9,608                 

RidgeWorth Intermediate Bond Fund

           121,240        105,822        15,418        158,960        9,471        31,236        (29,992

RidgeWorth International Equity Fund

    134,752        15,426        31,517        118,661        1,381,209        23,148               (45,151

RidgeWorth International Equity Index Fund

    42,588        230        40,546        2,272        27,354        861        500        112,272   

RidgeWorth Large Cap Core Growth Stock Fund*

    19,637        546        20,183                      402               94,268   

RidgeWorth Large Cap Growth Stock Fund*

    312,005        300,062        58,042        554,025        4,603,948        3,077        1,713,364        27,974   

RidgeWorth Large Cap Value Equity Fund

    365,675        21,182        83,546        303,311        4,780,176        69,179               77,695   

RidgeWorth Mid-Cap Value Equity Fund

    186,519        11,660        47,870        150,309        1,963,033        21,739        4,895        19,289   

RidgeWorth Seix Floating Rate High Income Fund

           17,638               17,638        159,802        3,023                 

RidgeWorth Seix High Yield Fund

           26,407               26,407        270,932        10,360                 

RidgeWorth Select Large Cap Growth Stock Fund

    72,234        18,517        31,802        58,949        1,586,308               423,761        (7,351

RidgeWorth Small Cap Growth Stock Fund

    65,338        12,661        25,450        52,549        822,910               160,345        71,344   

RidgeWorth Small Cap Value Equity Fund

    80,398        4,897        31,543        53,752        830,471        12,968        20,586        33,020   

RidgeWorth Total Return Bond Fund

           253,200               253,200        2,732,023        23,512        31,586          

RidgeWorth U.S. Government Securities Ultra-Short Bond Fund

           22,902        4,902        18,000        183,062        992               98   
         

 

 

   

 

 

   

 

 

   

 

 

 

Total

            $19,811,774        $193,109        $2,398,661        $600,834   
         

 

 

   

 

 

   

 

 

   

 

 

 

 

91


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Name of Affiliated Issuer

  Share
Balance at
March 31,
2012
    Purchases     Sales     Share
Balance at
March 31,
2013
    Value at
March 31,
2013
    Dividend
Income
    Realized
Gain
Distributions
    Net
Realized
Gain (Loss)
 

Conservative Allocation Strategy

               

RidgeWorth Aggressive Growth Stock Fund

    34,502        304        32,210        2,596        $40,493        $—        $1,542        $27,128   

RidgeWorth Corporate Bond Fund

    399,052        24,651        414,322        9,381        87,240        93,293        129,916        (69,433

RidgeWorth High Income Fund

    312,910        34,960        25,586        322,284        2,359,120        137,489               (14,378

RidgeWorth Intermediate Bond Fund

    1,283,517        53,885        1,186,257        151,145        1,558,300        179,800        361,231        (358,153

RidgeWorth International Equity Fund

    119,564        17,202        21,094        115,672        1,346,426        23,195               (23,928

RidgeWorth International Equity Index Fund

    34,303        222        30,798        3,727        44,872        1,412        820        18,212   

RidgeWorth Large Cap Core Growth Stock Fund*

    14,086        143        14,229                      363        1,951,091        54,970   

RidgeWorth Large Cap Growth Stock Fund*

    340,816        295,553        56,247        580,122        4,820,812        3,703               (12,116

RidgeWorth Large Cap Value Equity Fund

    303,899        59,765        54,921        308,743        4,865,788        63,277               (29,545

RidgeWorth Mid-Cap Value Equity Fund

    171,419        3,814        24,681        150,552        1,966,211        21,792        5,277        (31,468

RidgeWorth Seix Floating Rate High Income Fund

    95,875        91,396        7,822        179,449        1,625,811        46,180               (4,146

RidgeWorth Seix High Yield Fund

    228,754        46,175        18,717        256,212        2,628,730        148,705               (12,439

RidgeWorth Select Large Cap Growth Stock Fund

    46,118        22,203        15,049        53,272        1,433,559               345,187        (81,178

RidgeWorth Small Cap Growth Stock Fund

    53,100        11,583        12,205        52,478        821,805               168,287        (2,412

RidgeWorth Small Cap Value Equity Fund

    65,426        3,020        14,868        53,578        827,775        12,386        21,535        (4,447

RidgeWorth Total Return Bond Fund

    988,955        1,706,666        90,984        2,604,637        28,104,035        312,025        305,241        (5,942

RidgeWorth U.S. Government Securities Ultra-Short Bond Fund

    261,098        2,090        55,504        207,684        2,112,151        19,538               2,201   
         

 

 

   

 

 

   

 

 

   

 

 

 

Total

            $54,643,128        $1,063,158        $3,290,127        $(547,074
         

 

 

   

 

 

   

 

 

   

 

 

 

Growth Allocation Strategy

               

RidgeWorth Aggressive Growth Stock Fund

    129,023        418        124,369        5,072        $79,121        $—        $3,012        $579,085   

RidgeWorth Corporate Bond Fund

    131,474        12,272        139,812        3,934        36,587        32,215        27,537        (24,828

RidgeWorth High Income Fund

    173,470        15,238               188,708        1,381,342        81,210                 

RidgeWorth Intermediate Bond Fund

    651,423        23,313        608,233        66,503        685,642        91,324        141,813        (138,046

RidgeWorth International Equity Fund

    302,580        26,240        24,936        303,884        3,537,211        57,986        834        (33,710

RidgeWorth International Equity Index Fund

    98,718        226        95,154        3,790        45,629        1,436               169,001   

 

92


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Name of Affiliated Issuer

  Share
Balance at
March 31,
2012
    Purchases     Sales     Share
Balance at
March 31,
2013
    Value at
March 31,
2013
    Dividend
Income
    Realized
Gain
Distributions
    Net
Realized
Gain (Loss)
 

RidgeWorth Large Cap Core Growth Stock Fund*

    36,529        171        36,700               $—        $809        $—        $180,719   

RidgeWorth Large Cap Growth Stock Fund*

    739,646        730,413        93,129        1,376,930        11,442,285        7,930        4,378,350        (6,180

RidgeWorth Large Cap Value Equity Fund

    856,761        46,583        129,065        774,279        12,202,644        170,370               131,031   

RidgeWorth Mid-Cap Value Equity Fund

    380,007        6,871        7,968        378,910        4,948,568        52,101        12,599        8,723   

RidgeWorth Seix Floating Rate High Income Fund

    51,439        28,117               79,556        720,775        24,378                 

RidgeWorth Seix High Yield Fund

    123,150        14,097               137,247        1,408,156        83,062                 

RidgeWorth Select Large Cap Growth Stock Fund

    156,674        42,007        50,249        148,432        3,994,315               1,058,431        (185,217

RidgeWorth Small Cap Growth Stock Fund

    136,340        27,879        32,559        131,660        2,061,798               414,698        38,075   

RidgeWorth Small Cap Value Equity Fund

    167,652        6,700        39,571        134,781        2,082,360        31,449        53,224        5,882   

RidgeWorth Total Return Bond Fund

    425,766        742,759        18,553        1,149,972        12,408,201        148,568        150,880        (5,949

RidgeWorth U.S. Government Securities Ultra-Short Bond Fund

    32,860        26,409               59,269        602,763        2,836                 
         

 

 

   

 

 

   

 

 

   

 

 

 

Total

            $57,637,397        $785,674        6,241,378        $1,089,020   
         

 

 

   

 

 

   

 

 

   

 

 

 

Moderate Allocation Strategy

               

RidgeWorth Aggressive Growth Stock Fund

    225,271        6,537        231,808               $ —        $ —        $7,330        $1,018,274   

RidgeWorth Corporate Bond Fund

    572,586        46,314        598,944        19,956        185,588        145,632        164,077        (137,311

RidgeWorth High Income Fund

    781,935        71,232        36,657        816,510        5,976,854        357,656               (7,698

RidgeWorth Intermediate Bond Fund

    2,703,723        170,717        2,745,169        129,271        1,332,785        402,379        738,993        (879,933

RidgeWorth International Equity Fund

    521,778        55,532        21,477        555,833        6,469,892        111,809               (15,893

RidgeWorth International Equity Index Fund

    173,746        1,404        157,104        18,046        217,272        6,839        3,971        246,680   

RidgeWorth Large Cap Core Growth Stock Fund*

    63,307        1,986        65,293                      1,839               275,641   

RidgeWorth Large Cap Growth Stock Fund*

    1,325,098        1,301,143               2,626,241        21,824,059        16,744        8,821,533          

RidgeWorth Large Cap Value Equity Fund

    1,496,149        130,795        146,073        1,480,871        23,338,522        332,130               111,287   

RidgeWorth Mid-Cap Value Equity Fund

    668,249        74,869        15,860        727,258        9,497,992        98,443        24,200        17,188   

RidgeWorth Seix Floating Rate High Income Fund

    259,639        103,192               362,831        3,287,250        122,208                 

RidgeWorth Seix High Yield Fund

    554,601        50,552        25,988        579,165        5,942,234        358,480               (7,521

RidgeWorth Select Large Cap Growth Stock Fund

    255,580        71,224        51,779        275,025        7,400,915               1,624,912        (91,221

RidgeWorth Small Cap Growth Stock Fund

    230,143        59,630        43,117        246,656        3,862,625               798,999        20,531   

RidgeWorth Small Cap Value Equity Fund

    283,014        20,241        50,706        252,549        3,901,875        59,527        103,632        17,191   

 

93


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Name of Affiliated Issuer

  Share
Balance at
March 31,
2012
    Purchases     Sales     Share
Balance at
March 31,
2013
    Value at
March 31,
2013
    Dividend
Income
    Realized
Gain
Distributions
    Net
Realized
Gain (Loss)
 

RidgeWorth Total Return Bond Fund

    2,029,716        3,367,734               5,397,450        $58,238,486        $640,335        $618,540        $—   

RidgeWorth U.S. Government Securities Ultra-Short Bond Fund

    196,300        104,394        19,647        281,047        2,858,252        16,892               974   
         

 

 

   

 

 

   

 

 

   

 

 

 

Total

            $154,334,601        $2,670,913        $12,906,187        $568,189   
         

 

 

   

 

 

   

 

 

   

 

 

 

 

* On March 1, 2013, RidgeWorth Large Cap Core Growth Stock Fund reorganized into the RidgeWorth Large Cap Growth Stock Fund.

 

8. Reorganizations

On March 1, 2012, the Board approved the reorganization of the RidgeWorth Emerging Growth Stock Fund (the “Target Fund”) into the RidgeWorth Aggressive Growth Stock Fund (the “Acquiring Fund”), a separate series of the Trust. On April 27, 2012, the Acquiring Fund acquired all of the net assets of the Target Fund in a tax-free exchange of shares. The purpose of the transaction was to combine two portfolios with comparable investment objectives and strategies.

 

Target Fund

   Shares Prior to
Reorganization
     Shares
Issued by
the Acquiring
Fund
     Appreciation/
(Depreciation)
Prior to
Reorganization
    Net Assets
Prior to
Reorganization
 

I Shares

     648,340         557,942         $3,917,300        $8,812,408   

A Shares

     245,671         211,048         (490,875     3,249,658   

The combined net assets of the Acquiring Fund immediately after the reorganization were $96,324,650.

Assuming the acquisition had been completed on April 1, 2012, the beginning of the reporting period of the Acquiring Fund, the Acquiring Fund’s pro forma results of operations for the year ended March 31, 2013, were as follows:

Net Investment Income (Loss)

     $(669,132)   

Net Realized and Unrealized Gains/Losses on Investments

     $(3,193,533)   

Net Increase/Decrease in Net Assets resulting from Operations

     $(3,862,665)   

Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition was completed, it is not practicable to separate the amounts of revenue and earnings of the Target Fund that has been included in the Acquiring Fund’s Statement of Operations as of March 31, 2013.

On November 15, 2012, the Board approved the reorganization of the RidgeWorth Large Cap Core Growth Stock Fund (the “Target Fund”) into the RidgeWorth Large Cap Growth Stock Fund (the “Acquiring Fund”), a separate series of the Trust. On March 1, 2013, the Acquiring Fund acquired all of the net assets of the Target Fund in a tax-free exchange of shares. The purpose of the transaction was to combine two portfolios with comparable investment objectives and strategies.

 

Target Fund

   Shares Prior to
Reorganization
     Shares
Issued by
the Acquiring
Fund
     Appreciation/
(Depreciation)
Prior to
Reorganization
    Net Assets
Prior to
Reorganization
 

I Shares

     1,821,8212         3,492,724         $1,320,267        $28,329,532   

A Shares

     941,421         2,081,782         5,571,278        14,767,859   

C Shares

     1,066,645         2,887,824         (868,310     16,103,232   

The combined net assets of the Acquiring Fund immediately after the reorganization were $199,407,507.

 

94


NOTES TO FINANCIAL STATEMENTS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Assuming the acquisition had been completed on April 1, 2012, the beginning of the reporting period of the Acquiring Fund, the Acquiring Fund’s pro forma results of operations for the year ended March 31, 2013, were as follows:

 

Net Investment Income (Loss)

     $ 676,967   

Net Realized and Unrealized Gains/Losses on Investments

     $8,895,676   

Net Increase/Decrease in Net Assets resulting from Operations

     $9,572,643   

Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition was completed, it is not practicable to separate the amounts of revenue and earnings of the Target Fund that has been included in the Acquiring Fund’s Statement of Operations as of March 31, 2013.

 

9. Recent Accounting Pronouncements

In December 2011, Accounting Standards Update (“ASU”) No.2011-11, “Disclosures about Offsetting Assets and Liabilities,” was issued and is effective for interim and annual periods beginning after January 1, 2013. The ASU enhances disclosure requirements with respect to an entity’s rights of setoff and related arrangements associated with its financial and derivative instruments. Management is currently evaluating the impact the adoption of ASU No.2011-11 may have on the Funds’ financial statement disclosures.

 

10. Subsequent Events

Management has evaluated subsequent events through the date these financial statements were issued. Management has determined that, except as set forth below, there are no material events that would require disclosure in the Funds’ financial statements through this date.

Management was notified of SunTrust’s intent to liquidate their pension positions in the International Equity Fund and the International Equity Index Fund. As of March 31, 2013, these amounts were $247,972,106 and $163,368,013, respectively. This redemption is anticipated to occur in late May, 2013.

 

95


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

RIDGEWORTH FUNDS    March 31, 2013

 

To the Board of Trustees and Shareholders of

RidgeWorth Funds:

In our opinion, the accompanying statements of assets and liabilities, including the schedules of portfolio investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Aggressive Growth Stock Fund, International Equity Fund, International Equity Index Fund, Large Cap Growth Stock Fund, Large Cap Value Equity Fund, Mid-Cap Value Equity Fund, Select Large Cap Growth Stock Fund, Small Cap Growth Stock Fund, Small Cap Value Equity Fund, Aggressive Growth Allocation Strategy, Conservative Allocation Strategy, Growth Allocation Strategy, and Moderate Allocation Strategy (thirteen of the funds constituting RidgeWorth Funds, collectively the “Funds”) at March 31, 2013, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at March 31, 2013 by correspondence with the custodian and brokers, and application of alternative auditing procedures where securities purchased had not been received, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

May 24, 2013

Boston, Massachusetts

 

96


OTHER FEDERAL TAX INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

The following Funds have designated long term capital gain distributions as follows:

 

Fund

   Amount  

Aggressive Growth Stock Fund

     $2,009,391   

International Equity Index Fund

     6,132,178   

Large Cap Growth Stock Fund

     109,806,620   

Select Large Cap Growth Stock Fund

     8,493,940   

Small Cap Growth Stock Fund

     51,737,625   

Small Cap Value Equity Fund

     40,231,084   

Conservative Allocation Strategy

     501,787   

Moderate Allocation Strategy

     2,686,735   

For corporate shareholders, the following percentages of the total ordinary income distributions paid by the following Funds during the year ended March 31, 2013 qualify for the corporate dividends received deduction:

 

Fund

   Dividends Received
Deduction
 

Large Cap Growth Stock Fund

     100.00

Large Cap Value Equity Fund

     100.00   

Mid-Cap Value Equity Fund

     22.47   

Small Cap Value Equity Fund

     98.71   

Aggressive Growth Allocation Strategy

     61.62   

Conservative Allocation Strategy

     10.83   

Growth Allocation Strategy

     33.58   

Moderate Allocation Strategy

     21.82   

In addition, the Funds may elect to pass through foreign taxes paid by the Funds to shareholders under Section 853 of the Internal Revenue Code. For the year ended March 31, 2013, International Equity Fund and International Equity Index Fund elected to pass through foreign taxes of $289,152 and $404,226 respectively.

For the year ended March 31, 2013, the following Funds paid qualified dividend income:

 

Fund

   Qualified Dividend
Income
 

International Equity Fund

     91.89

International Equity Index Fund

     59.48   

Large Cap Growth Stock Fund

     100.00   

Large Cap Value Equity Fund

     100.00   

Mid-Cap Value Equity Fund

     22.61   

Small Cap Value Equity Fund

     99.15   

Aggressive Growth Allocation Strategy

     75.63   

Conservative Allocation Strategy

     13.41   

Growth Allocation Strategy

     42.00   

Moderate Allocation Strategy

     26.47   

The RidgeWorth International Equity Fund and International Equity Index Fund intend to elect to pass through to shareholders the income tax credit for taxes paid to foreign countries.

 

Fund

   Foreign Source
Income
     Foreign Tax
Expense
 

International Equity Fund

     $8,675,528         $289,152   

International Equity Index Fund

     10,713,291         404,226   

The pass-through of the foreign tax credit will only affect those persons who are shareholders on the dividend record dates. These shareholders will receive more detailed information with their 2013 Form 1099-DIV.

 

97


TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Set forth below are the names, age, position with the Trust, length of term of office, and the principal occupations and other directorships held during at least the last five years of each of the persons currently serving as a Trustee of the Trust. Unless otherwise noted, the address of each Trustee and officer is c/o RidgeWorth Investments®, 3333 Piedmont Road, Suite 1500, Atlanta, Georgia 30305.

 

Name and Age   Position Held
with the
Trust
  Term of
Office and
Length of
Time
Served
 

Principal Occupation(s)

During the Past 5 Years

  Number of
Portfolios
in the RidgeWorth
Complex
Overseen by
Trustees
    Other Directorships Held By
Trustee During the Past 5 Years

Tim E. Bentsen

Age: 59

  Trustee   Indefinite; since 2012   Retired. Audit Partner and Account Executive (1993-2012); Lead Area Managing Partner (2005-2009); Office Managing Partner (2003-2009), KPMG LLP.     33      None

Jeffrey M. Biggar

Age: 63

  Trustee   Indefinite; since 2007   Managing Director, Little Mountain Group, LLC (an independent Registered Investment Advisor consulting firm) (since 2011); Chief Operating Officer, Cedar Brook Financial Partners LLC (2008-2010); Chief Executive Officer and Senior Managing Director, Sterling (National City Corp.) (2000-2006).     33      GenSpring Trust

George C. Guynn

Age: 70

  Trustee   Indefinite; since 2008   Retired. President (1996-2006) and Chief Executive Officer (1995-2006) Federal Reserve Bank of Atlanta.     33      Genuine Parts Company; Oxford Industries; John Wieland Homes and Neighborhoods Inc.; Acuity Brands Inc.; GenSpring Trust

Sidney E. Harris

Age: 63

  Trustee   Indefinite; since 2004   Professor (since 1997), Dean (1997-2004), J. Mack Robinson College of Business, Georgia State University.     33      Total System Services, Inc.; GenSpring Trust

Warren Y. Jobe

Age: 72

  Trustee   Indefinite; since 2004   Retired. Executive Vice President and Chief Financial Officer, Georgia Power Company (1982-1998) and Senior Vice President, Southern Company (1998-2001).     33      WellPoint, Inc; UniSource Energy Corp.

Connie D. McDaniel

Age: 55

  Trustee   Indefinite; since 2005   Vice President, Chief of Internal Audit, Corporate Audit Department (since 2009); Vice President Global Finance Transformation (2007-2009); Vice President and Controller (1999-2007), The Coca-Cola Company.     33      None

 

98


TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Name, Address and Age   Position(s) Held with
the Trust
  Term of Office
and Length of
Time Served
  Principal Occupation(s)
During the Past 5 Years

Julia R. Short

RidgeWorth Investments

3333 Piedmont Road, NE Suite 1500

Atlanta, GA 30305

Age: 40

  President and Chief Executive Officer   One year; since 2007   Managing Director, Product Manager, RidgeWorth Investments (since 2004).

Joseph M. O’Donnell

RidgeWorth Investments

3333 Piedmont Road, NE

Suite 1500

Atlanta, GA 30305

Age: 58

  Executive Vice President and Chief Compliance Officer   One year; since 2011  

Managing Director of Fund Compliance, RidgeWorth Investments (since 2011);

Executive Vice President and Chief Compliance Officer of the ING Funds (2004-2011); Chief Compliance Officer of ING Investments, LLC (2006-2008 and October 2009-2011); and Investment Advisor Chief Compliance Officer, Directed Services LLC (2006-2008 and 2009-2011).

Denise R. Lewis

RidgeWorth Investments

3333 Piedmont Road, NE

Suite 1500

Atlanta, GA 30305

Age: 49

  Treasurer and Chief Financial Officer   One year; since August 2012  

Director of Fund Administration, RidgeWorth Investments (since 2012);

Vice President of Fund Analysis and Reporting, ING Investments Management, LLC (2006-2012).

Benjamin H. Lowe

RidgeWorth Investments

3333 Piedmont Road, NE

Suite 1500

Atlanta, GA 30305

Age: 35

  Assistant Treasurer   One year; since March 2012  

Director of Fund Administration, RidgeWorth Investments (since 2011);

Fund Controller, ALPS Fund Services, Inc. (2005-2011).

James Bacik

State Street Bank and Trust Co.

4 Copley Place, 5th Fl.

Boston, MA 02116

Age: 38

  Assistant Treasurer   One year; since 2010   Assistant Vice President, State Street Bank and Trust Company (since 2001).1

James M. Atwood Foreside Compliance Services, LLC

Three Canal Plaza, Suite 100

Portland, ME 04101

Age: 47

  Anti-Money Laundering Officer and Identity Theft Prevention Officer   One year; since 2010   Compliance Analyst, Foreside Compliance Services, LLC (since 2007); personal sabbatical (2004-2007); Attorney, Pierce Atwood (law firm) (2001-2004).

Francine S. Hayes

State Street Bank and Trust Company

Mailstop CPH 0326

4 Copley Place

Boston, MA 02116

Age: 45

  Secretary and Chief Legal Officer   One year; since August 2012   Vice President and Managing Counsel, State Street Bank and Trust Company (since 1995).1

Julie Tedesco

State Street Bank and Trust Company

Mailstop CPH 0326

4 Copley Place

Boston, MA 02116

Age: 55

  Assistant Secretary   One year;
since 2010
  Senior Vice President and Senior Managing Counsel, State Street Bank and Trust Company (since 2000).1

 

1  During the year indicated the Officer has held various positions at State Street Bank and Trust Company and has provided his or her current title.

 

99


ADDITIONAL INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

ANNUAL APPROVAL OF INVESTMENT ADVISORY AND SUBADVISORY AGREEMENTS

The continuance of the Trust’s investment advisory agreement with RidgeWorth Capital Management, Inc. (the “Adviser”) and subadvisory agreements between the Adviser and each of Ceredex Value Advisors LLC, Certium Asset Management LLC, Silvant Capital Management LLC, and Zevenbergen Capital Investments LLC (collectively, the “Subadvisers”) must be specifically approved at least annually by (i) the vote of the Trustees or a vote of the shareholders of the Funds and (ii) the vote of a majority of the Trustees who are not parties to the agreements or “interested persons” of any party thereto (the “Independent Trustees”), as defined in the Investment Company Act of 1940, cast in person at a meeting called for the purpose of voting on such approval. New advisory agreements for the Trust are also subject to such approval initially and annually after their initial term is complete.

Each year, the Board of Trustees calls and holds a meeting to decide whether to approve and/or renew the Trust’s agreements for the upcoming year. In preparation for the meeting, the Board requests and reviews a wide variety of information from the Adviser and Subadvisers. The Trustees use this information, as well as other information that the Adviser, Subadvisers, and other service providers may submit to the Board, to help them decide whether to approve and/or renew the agreements.

In considering the renewal of the agreements with the Adviser and Subadvisers, the Board requested and received material from the Adviser and Subadvisers in preparation for a special meeting of the Board held on October 11, 2012, and requested and reviewed additional material from the Adviser and Subadvisers in preparation for its quarterly meeting held on November 15, 2012, at which it specifically considered the renewal of the agreements. Such material included, among other things, information about: (a) the quality of the Adviser’s and Subadvisers’ investment management and other services; (b) the Adviser’s and Subadvisers’ investment management personnel; (c) the Adviser’s and Subadvisers’ operations and financial condition; (d) the Adviser’s and Subadvisers’ brokerage practices (including any soft dollar arrangements) and investment strategies; (e) the level of the advisory fees that the Adviser and Subadvisers charge the Funds compared with the fees they charge to comparable mutual funds or accounts; (f) the Funds’ overall fees and operating expenses compared with similar mutual funds; (g) the level of the Adviser’s and Subadvisers’ profitability from their Fund-related operations; (h) the Adviser’s and Subadvisers’ compliance systems; (i) the Adviser’s and Subadvisers’ policies and procedures for personal securities transactions; (j) the Adviser’s and Subadvisers’ reputation, expertise, and resources in domestic financial markets; and (k) the Funds’ performance compared with similar mutual funds. The Board also received a memorandum from fund counsel regarding the responsibilities of the Trustees in connection with their consideration of the agreements.

At the meetings, representatives from the Adviser and Subadvisers presented additional oral and written information to the Board to help the Board evaluate the Adviser’s and Subadvisers’ fees and other aspects of the agreements. The Board also considered information presented by the Adviser, Subadvisers, and other service providers at meetings held throughout the year. The Trustees discussed the written materials, oral presentations, and any other information that the Board received, and considered the approval of the agreements in light of this information.

Based on the Board’s deliberations and evaluation of the information it received, the Board, all of whose members are Independent Trustees, approved the renewal of the agreements with the Adviser and Subadvisers and determined that the compensation under the agreements is fair and reasonable in light of the services to be performed. The Board considered the following specific factors, none of which was controlling, and made the following conclusions:

Nature, Extent, and Quality of Services

The Board received and considered information regarding the nature, extent, and quality of services to be provided to the Funds by the Adviser and Subadvisers. In this regard, the Trustees evaluated, among other things, the Adviser’s and Subadvisers’ personnel, experience, track record, and compliance program. The Board considered the background and experience of the Adviser’s and Subadvisers’ senior management and the expertise of, and amount of attention expected to be given to the Funds by, their portfolio management teams. The Board reviewed the qualifications, backgrounds, and responsibilities of the portfolio managers responsible for the day-to-day management of the Funds. The Board also reviewed information pertaining to the Adviser’s and Subadvisers’ organizational structure, senior management, investment operations, and other relevant information. The Board

 

100


ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

concluded that, within the context of its full deliberations, the nature, extent, and quality of the services to be provided to the Funds by the Adviser and Subadvisers supported the approval of the agreements.

Performance

The Board considered the investment performance of each Fund, including any periods of outperformance and underperformance, both on an absolute basis and a comparative basis to indices and other funds within the same investment categories. Specifically, the Board considered each Fund’s performance relative to its peer group and appropriate benchmarks in light of total return, yield, and market trends. As part of this review, the Board considered the composition of the peer group and selection criteria, as well as market risk and shareholder risk expectations. The Board considered the Adviser’s and Subadvisers’ explanations regarding specific performance issues. The Board concluded that, within the context of its full deliberations, the performance of the Funds, the Adviser, and the Subadvisers supported the approval of the agreements.

Fund Expenses

With respect to advisory fees, the Board considered the rate of compensation under the agreements and each Fund’s net operating expense ratio in comparison to those of comparable mutual funds. The Trustees also considered information about average expense ratios of comparable mutual funds in each Fund’s peer group. Finally, the Trustees considered the effect of the Adviser’s and Subadvisers’ waiver and reimbursement of fees and expenses, where applicable, to prevent total expenses from exceeding a specified amount and that, due to these waivers and reimbursements, net operating expenses have been maintained at competitive levels. The Board concluded that, within the context of its full deliberations, the expenses of the Funds are reasonable and supported the approval of the agreements.

Profitability

The Board reviewed information about the profitability of the Funds to the Adviser and Subadvisers and considered whether the level of profitability was reasonable and justified in light of the quality of the services rendered to the Funds. The Board concluded that, within the context of its full deliberations, the profitability of the Adviser and Subadvisers is within the range the Board considered reasonable.

Economies of Scale

The Board considered the existence of economies of scale and whether they were passed along to Fund shareholders through a graduated advisory fee schedule or other means, including any fee and expense waivers and reimbursements by the Adviser and Subadvisers. The Board concluded that, within the context of its full deliberations, the Funds obtain reasonable benefit from economies of scale.

 

101


ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Shareholder Meeting Results

A special meeting of shareholders (“Meeting”) of the RidgeWorth Large Cap Core Growth Stock Fund (“Fund”) was held on February 11, 2013.

The Meeting was held to consider and act on the following proposal: To approve an Amendment to the Distribution and Service Plan for A Shares to increase the 12b-1 fee applicable to A Shares of the Fund.

The number of shares outstanding on the record date (December 17, 2012), the number of shares represented at the Meeting, and the details of the voting with respect to the Proposal is shown below. The Proposal received the required number of affirmative votes for approval.

 

      Shares Outstanding      

   Shares Represented    Affirmative Votes    Objecting Votes    Abstaining Votes
967,859    492,039    415,738    19,741    56,560

 

102


ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Expense Examples

As a shareholder of the RidgeWorth Funds, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases; and (2) ongoing costs, including management fees, 12b-1 distribution and/or service fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the RidgeWorth Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2012 through March 31, 2013.

Actual Expenses

The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

 

Fund

   Class      Beginning
Account Value
10/01/12
     Ending
Account Value
03/31/13
     Expenses Paid
During Period*
10/01/12-03/31/13
     Expense Ratio
During Period**
10/01/12-03/31/13
 

Aggressive Growth Stock Fund

     I Shares         $1,000.00         $1,106.60         $6.14         1.17
     A Shares         1,000.00         1,106.00         7.40         1.41   

International Equity Fund

     I Shares         1,000.00         1,117.30         5.54         1.05   
     A Shares         1,000.00         1,115.30         7.28         1.38   

International Equity Index Fund

     I Shares         1,000.00         1,109.00         3.89         0.74   
     A Shares         1,000.00         1,107.20         5.20         0.99   

Large Cap Growth Stock Fund

     I Shares         1,000.00         1,047.00         4.34         0.85   
     A Shares         1,000.00         1,046.59         5.46         1.07   
     C Shares         1,000.00         1,042.81         9.17         1.80   

Large Cap Value Equity Fund

     I Shares         1,000.00         1,139.40         5.01         0.94   
     A Shares         1,000.00         1,137.90         6.29         1.18   
     C Shares         1,000.00         1,134.70         9.10         1.71   

Mid-Cap Value Equity Fund

     I Shares         1,000.00         1,178.40         5.97         1.10   
     A Shares         1,000.00         1,177.30         7.27         1.34   
     C Shares         1,000.00         1,174.50         9.65         1.78   

Select Large Cap Growth Stock Fund

     I Shares         1,000.00         1,021.80         5.14         1.02   
     A Shares         1,000.00         1,020.60         6.55         1.30   
     C Shares         1,000.00         1,017.00         9.96         1.98   

Small Cap Growth Stock Fund

     I Shares         1,000.00         1,118.64         6.23         1.18   
     A Shares         1,000.00         1,119.22         6.71         1.27   
     C Shares         1,000.00         1,115.33         10.18         1.93   

Small Cap Value Equity Fund

     I Shares         1,000.00         1,183.78         6.59         1.21   
     A Shares         1,000.00         1,182.72         8.16         1.50   
     C Shares         1,000.00         1,179.35         10.32         1.90   

Aggressive Growth Allocation Strategy

     I Shares         1,000.00         1,072.70         2.58         0.50   
     A Shares         1,000.00         1,072.00         3.62         0.70   
     C Shares         1,000.00         1,067.60         6.70         1.30   

Conservative Allocation Strategy

     I Shares         1,000.00         1,031.90         1.52         0.30   
     A Shares         1,000.00         1,030.40         3.04         0.60   
     C Shares         1,000.00         1,027.40         6.57         1.30   

Growth Allocation Strategy

     I Shares         1,000.00         1,065.90         2.58         0.50   
     A Shares         1,000.00         1,064.10         3.50         0.68   
     C Shares         1,000.00         1,061.80         6.58         1.28   

Moderate Allocation Strategy

     I Shares         1,000.00         1,049.10         2.55         0.50   
     A Shares         1,000.00         1,048.50         3.22         0.63   
     C Shares         1,000.00         1,044.60         6.17         1.21   

 

* Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by the number of days (182) in the most recent fiscal half-year divided by the number of days in the fiscal year (365).

 

** Annualized.

 

103


ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Hypothetical Example

The table below provides information about hypothetical account values and hypothetical expenses based on each RidgeWorth Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) or redemption fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

Fund

   Class      Beginning
Account Value
10/01/12
     Ending
Account Value
03/31/13
     Expenses Paid
During Period*
10/01/12-03/31/13
     Expense Ratio
During Period**
10/01/12-03/31/13
 

Aggressive Growth Stock Fund

     I Shares         $1,000.00         $1,019.10         $5.89         1.17
     A Shares         1,000.00         1,017.90         7.09         1.41   

International Equity Fund

     I Shares         1,000.00         1,019.70         5.29         1.05   
     A Shares         1,000.00         1,018.05         6.94         1.38   

International Equity Index Fund

     I Shares         1,000.00         1,021.24         3.73         0.74   
     A Shares         1,000.00         1,020.00         4.99         0.99   

Large Cap Growth Stock Fund

     I Shares         1,000.00         1,020.69         4.28         0.85   
     A Shares         1,000.00         1,019.60         5.39         1.07   
     C Shares         1,000.00         1,015.96         9.05         1.80   

Large Cap Value Equity Fund

     I Shares         1,000.00         1,020.24         4.73         0.94   
     A Shares         1,000.00         1,019.05         5.94         1.18   
     C Shares         1,000.00         1,016.40         8.60         1.71   

Mid-Cap Value Equity Fund

     I Shares         1,000.00         1,019.45         5.54         1.10   
     A Shares         1,000.00         1,018.25         6.74         1.34   
     C Shares         1,000.00         1,016.06         8.95         1.78   

Select Large Cap Growth Stock Fund

     I Shares         1,000.00         1,019.85         5.14         1.02   
     A Shares         1,000.00         1,018.45         6.54         1.30   
     C Shares         1,000.00         1,015.06         9.95         1.98   

Small Cap Growth Stock Fund

     I Shares         1,000.00         1,019.05         5.94         1.18   
     A Shares         1,000.00         1,018.60         6.39         1.27   
     C Shares         1,000.00         1,015.31         9.70         1.93   

Small Cap Value Equity Fund

     I Shares         1,000.00         1,018.90         6.09         1.21   
     A Shares         1,000.00         1,017.45         7.54         1.50   
     C Shares         1,000.00         1,015.46         9.55         1.90   

Aggressive Growth Allocation Strategy

     I Shares         1,000.00         1,022.44         2.52         0.50   
     A Shares         1,000.00         1,021.44         3.53         0.70   
     C Shares         1,000.00         1,018.45         6.54         1.30   

Conservative Allocation Strategy

     I Shares         1,000.00         1,023.44         1.51         0.30   
     A Shares         1,000.00         1,021.94         3.02         0.60   
     C Shares         1,000.00         1,018.45         6.54         1.30   

Growth Allocation Strategy

     I Shares         1,000.00         1,022.44         2.52         0.50   
     A Shares         1,000.00         1,021.54         3.43         0.68   
     C Shares         1,000.00         1,018.55         6.44         1.28   

Moderate Allocation Strategy

     I Shares         1,000.00         1,022.44         2.52         0.50   
     A Shares         1,000.00         1,021.79         3.18         0.63   
     C Shares         1,000.00         1,018.90         6.09         1.21   

 

* Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by the number of days (182) in the most recent fiscal half-year divided by the number of days in the fiscal year (365).

 

** Annualized.

Proxy Voting Information

Information regarding the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling 1-888-784-3863. The information also is included in the Funds’ Statement of Additional Information, which is available on the Funds’ website at www.ridgeworth.com and on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.

 

104


ADDITIONAL INFORMATION  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Information relating to how each Fund voted proxies relating to portfolio securities held during the most recent twelve months ended June 30 is available on the Funds’ website at www.ridgeworth.com and on the SEC’s website at www.sec.gov.

Quarterly Portfolio Holdings Information

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available free of charge on the SEC’s website at www.sec.gov. You may also review or, for a fee, copy those documents by visiting the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330.

 

105


INVESTMENT ADVISER:

RidgeWorth Investments®

3333 Piedmont Road, NE, Suite 1500

Atlanta, Georgia 30305

www.ridgeworth.com

INVESTMENT SUBADVISERS:

 

Ceredex Value Advisors LLC

Lincoln Plaza, Suite 1600

300 South Orange Avenue

Orlando, Florida 32801

www.ceredexvalue.com

Certium Asset Management LLC

3333 Piedmont Road, NE, Suite 1500

Atlanta, Georgia 30305

www.certiumllc.com

 

Silvant Capital Management LLC

3333 Piedmont Road, NE, Suite 1500

Atlanta, Georgia 30305

www.silvantcapital.com

 

Zevenbergen Capital Investments LLC

601 Union Street, Suite 4600

Seattle, Washington 98101

www.zci.com

 

 

This information must be preceded or accompanied by a current prospectus for each Fund described. An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about RidgeWorth Funds can be found in the Fund’s prospectus. For additional information, please call 1-888-784-3863, or visit www.ridgeworth.com. Please read the prospectus carefully before investing.

DISTRIBUTOR:

RIDGEWORTH DISTRIBUTORS LLC

Not FDIC Insured No Bank Guarantee • May Lose Value

 

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RFAR-EQ-0313

 

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Collective Strength. Individual Insight.®

 

2013 ANNUAL REPORT

FIXED INCOME FUNDS

MARCH 31, 2013

 

LOGO

 

RidgeWorth Investments® is the trade name of RidgeWorth Capital Management, Inc.

Collective Strength. Individual Insight.® is a federally  registered service mark of RidgeWorth Investments.®


TABLE OF CONTENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Letter to Shareholders      1   
Management Discussion of Fund Performance   
Fixed Income Funds:   

Core Bond Fund

     3   

Corporate Bond Fund

     5   

Georgia Tax-Exempt Bond Fund

     7   

High Grade Municipal Bond Fund

     9   

High Income Fund

     11   

Intermediate Bond Fund

     13   

Investment Grade Tax-Exempt Bond Fund

     15   

Limited Duration Fund

     17   

Limited-Term Federal Mortgage Securities Fund

     19   

North Carolina Tax-Exempt Bond Fund

     21   

Seix Floating Rate High Income Fund

     23   

Seix High Yield Fund

     25   

Short-Term Bond Fund

     27   

Short-Term Municipal Bond Fund

     29   

Short-Term U.S. Treasury Securities Fund

     31   

Total Return Bond Fund

     33   

Ultra-Short Bond Fund

     35   

U.S. Government Securities Fund

     37   

U.S. Government Securities Ultra-Short Bond Fund

     39   

Virginia Intermediate Municipal Bond Fund

     41   
Schedules of Portfolio Investments      43   
Statements of Assets and Liabilities      148   
Statements of Operations      152   
Statements of Changes in Net Assets      156   
Financial Highlights      163   
Notes to Financial Statements      171   
Report of Independent Registered Public Accounting Firm      196   
Other Federal Tax Information      197   
Trustees and Officers of the RidgeWorth Funds      198   
Additional Information      200   


LETTER TO SHAREHOLDERS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Dear Valued Client,

We are pleased to report that both the economy and the broader markets continued to recover over the past year, despite persistent global economic and financial challenges. We are also pleased to report that RidgeWorth Funds maintained its strong long-term investment performance record. This update will discuss recent events and identify what we anticipate for both the broad economy and the capital markets in 2013.

Before we begin, we want to thank you, our valued RidgeWorth Funds’ shareholders, for your continued business and support. We focus all of our efforts on helping you achieve your investment goals, and we are grateful that you have placed your confidence in us. Our sole mission is to earn your trust through providing competitive investment performance and excellent client service. We sincerely hope we have met your expectations in both of these measures and we look forward to continuing as your asset manager in the future.

In last year’s letter, we discussed why we remained positive regarding our outlook for the economy and the markets: improving job growth, a continued recovery in housing, low interest rates, accommodative global monetary policy, and reasonable equity valuations. However, we cautioned that many of the challenges that affected the markets over the past several years would likely remain, including fiscal and financial strains in the European Union (“EU”), persistent unemployment, volatile energy prices, and record federal deficits. We also added to that list the growing political dysfunction in Washington and the potential damage that could result from going over the “fiscal cliff.” We suggested that the net effect of these forces would likely be continued, but slower than normal growth, and that this would persuade the Federal Reserve (“Fed”) to maintain its low interest rate policy.

Indeed, the economy experienced a soft growth patch at the beginning of the latest fiscal year that ended March 31, 2013. This sluggishness countered much of the unexpected strength early in 2012, and prompted many analysts to lower growth and earnings forecasts. While growth slowed noticeably, we believe it is important to note that employers did not use the environment to initiate a new round of corporate restructuring and effect widespread layoffs. Instead, they continued to leverage the improved efficiencies won during the painful recession and maintained cyclically solid profit margins, an important sign of stability. Moreover, underneath the surface strains in the economy, the consumer showed steady improvement as shown in increased auto purchases, higher home sales and prices, and falling loan delinquency rates. The steady, though only modest, growth in employment and incomes along with improving home values allowed the consumer to continue rebuilding his battered balance sheet and confidence.

While the consumer and business segments of the economy continue to recover, the federal government struggled with record budget deficits and unsustainable long-term spending commitments. The fiscal cliff battles resulted in higher payroll and income tax rates at the beginning of 2013, while efforts to reach a long-range budget compromise only resulted in a painful sequester fallback agreement that began on March 1, 2013. The effects on the economy of both of these events are only just beginning.

Against the generally improving domestic economic backdrop, the rest of the global economy experienced some weakness as shown in the recession in the EU and deceleration in the emerging market economies such as China and Brazil. With global economic growth still soft by historic standards, financial strains remained a key focus for central banks, and policy makers around the globe are feeling pressure to contain and alleviate the mounting stress. The banking failure in the tiny island nation of Cyprus in March 2013 reinforced the notion that the work to restore economic and financial stability is not over.

Despite worrisome events, strains, and crosswinds, both here and overseas, U.S. equity markets generated healthy returns and finished at record highs on the last day of March 2013. The benchmark S&P 500 Index returned just under 14% (13.96%) including dividends for the twelve months ended March 31, 2013, which was above the long-term average annual gain. The Russell Mid-Cap and the Russell 2000 (small cap) indices rose an even more impressive 17.30% and 16.30%, respectively. Defensive sectors such as Health Care, Consumer Staples, and Telecommunications outperformed during the 12 months, and the Value style bested the Growth style following an extended period of underperformance. Markets outside the U.S. improved but lagged domestic indices, with the MSCI EAFE and MSCI Emerging Markets indices up 11.27% and 1.96%, respectively.

Fixed income markets also shared in the advance during the past year, helped by the Fed’s decision to continue buying securities and from the global turmoil, supporting the belief that the U.S. Treasury market is the safest haven in the world. However, with Treasury yields hovering near record low levels, many investors preferred higher-yielding corporate and high yield bonds, which significantly outperformed the 3.77% gain in the Barclays Aggregate Bond Index.

 

1


LETTER TO SHAREHOLDERS (concluded)

 

RIDGEWORTH FUNDS    March 31, 2013

 

RidgeWorth Funds continued to maintain its record of strong long-term performance as 75% of our Funds beat their Lipper Peer Group medians for the 5-year period ended March 31, 20131. In addition, 75% of our Funds finished in the first or second quartile for the 10-year period1.

Looking ahead domestically, we expect the below-average growth and low inflation that characterized 2012 to continue in 2013, though we believe many of the economic headwinds of recent years, such as excess consumer leverage, may further dissipate. We anticipate modest job gains with less drag from the state and local governments and we believe housing will remain a neutral to positive influence on growth, wealth, and confidence. Corporate balance sheets are strong, cash positions are substantial, and inventories do not appear bloated, suggesting limited downside risk. Globally, we expect continued accommodative monetary policies and low interest rates. Valuations rose in the first quarter but they are still relatively attractive, in historical terms.

All that said, with the economy expanding the risks of setbacks should not be minimized. Key metrics we are following, in addition to those mentioned above, remain job growth, political, fiscal and monetary policy, EU stability efforts, income growth, housing prices, transportation data, stability in operating and net margins, consensus earnings, and cash flow estimates.

We believe the markets will continue to offer opportunities to investors, but they will be more selective and company-specific, an environment that fits well with RidgeWorth’s bottom-up approach to security selection. We at RidgeWorth wish to again thank you for the trust and confidence you have placed in us, and we look forward to another good year together.

Sincerely,

 

LOGO

Ashi Parikh

Chairman, CEO, CIO

RidgeWorth Investments®

 

1  For the period ended March 31, 2013, 50% (16/32), 56% (18/32), 75% (24/32) and 75% (21/28) of the RidgeWorth Funds (I Shares) beat their Lipper peer group medians for the 1-, 3-, 5- and 10-year periods, respectively. The Lipper rankings are as of March 31, 2013, for I Shares only, based on total returns and do not reflect a sales charge. ©2013 Lipper Leader, Reuters. All Rights Reserved. Lipper Ratings are according to Lipper, a Thomson Reuters Company. Past performance is not indicative of future results.

 

2


CORE BOND FUND

 

 

Portfolio Managers

 

Ÿ   James F. Keegan
Ÿ   Adrien Webb, CFA
Ÿ   Perry Troisi
Ÿ   Michael Rieger

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Core Bond Fund returned 3.53% (I Shares) versus 3.77% for the Barclays Capital U.S. Aggregate Bond Index. For longer-time periods, performance of the Fund has exceeded the index at 5.65% versus 5.52% over 3 years and 6.39% versus 5.47% over 5 years.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Given the generosity of central banks globally, the fiscal year was marked by a broad “risk rally” that rewarded nearly all spread sectors, with the lower rated, higher beta segments of the market benefitting the most and providing robust excess returns. With that backdrop, the Fund’s overweight in spread product (all fixed income securities that trade at a spread over a comparable U.S. Treasury Security) was a positive contributor to performance. Security selection within corporate bonds was a modest drag as positioning was fairly defensive, while mortgage-backed security (MBS) selection contributed to the Fund’s return via several off-index allocations (collateralized mortgage obligations [CMOs] and delegated underwriting and servicing [DUS] bonds). A void in government-related risk was also a drag on performance. Strategic yield curve positioning was not a part of performance this year.

How do you plan to position the Fund, based on market conditions?

Current valuations are hyper inflated over the intermediate and long term. Juxtaposing these valuations against the fragile and challenged macroeconomic environment that persists, we find comfort in remaining defensive and less exposed to risk markets/spread sectors relative to positioning at earlier points in the recovery. An overabundance of complacency exists globally and warrants caution.

The Fund is currently at an index weighting in corporate bonds, down slightly from 1.2x the index weight at the beginning of the fiscal year. This is a low in corporate bond exposure compared to the last several years. The positioning remains defensive, focusing on industrial exposure while maintaining a longstanding underweight in money center bank exposure. While still overweight residential mortgage-backed securities (RMBS), we have reduced the weighting versus the index from 1.3x to 1.1x over the course of the fiscal year. Positioning within RMBS continues to be overweight 15-year collateral and the usage of structure (CMOs) for prepayment protection and convexity. A modest overweight in commercial mortgage-backed securities (CMBS) persists and the exposure remains near the top of the capital structure. The Fund is void the government-related sector, as the spread offered does not adequately compensate for the risk.

 

3


CORE BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Aggregate Bond Index, which covers the U.S. dollar-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The Index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS and CMBS sectors. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Core Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge          3.20%           5.33%           6.07%           5.02%   
     with sales charge*            -1.67%           3.63%           5.03%           4.51%   

R Shares^

                3.15%           5.10%           5.69%           4.51%   

I Shares

                3.53%           5.65%           6.39%           5.37%   
Barclays Capital U.S. Aggregate Bond Index            3.77%           5.52%           5.47%           5.02%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.71%   
R Shares                                                  1.03%   
I Shares                                                  0.39%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

^ Effective at the close of business on 7/31/09, C Shares converted to R Shares and C Shares are no longer available for purchase. The performance shown prior to such date is based on the performance of the C Shares of the Fund and has not been adjusted to reflect R Shares expenses.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

4


CORPORATE BOND FUND

 

 

Portfolio Managers

 

Ÿ   James F. Keegan
Ÿ   Adrien Webb, CFA
Ÿ   Perry Troisi

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

Although the Fund’s yield may be higher than that of fixed income funds that purchase higher-rated securities, the potentially higher yield is a function of the greater risk that the Fund’s share price will decline.

International investing involves increased risk and volatility.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Corporate Bond Fund returned 6.71% (I Shares) versus 7.47% for the Barclays Capital U.S. Corporate Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Given the generosity of central banks globally, the fiscal year was marked by a broad “risk rally” that rewarded nearly all spread sectors, with the higher beta segments of the market benefitting the most and providing robust excess returns. The Fund’s defensive positioning amidst this long “risk on” period was the driver of underperformance.

How do you plan to position the Fund, based on market conditions?

Current valuations are hyper inflated over the intermediate and long term. Juxtaposing these valuations against the fragile and challenged macroeconomic environment that persists, we find comfort in remaining defensive and less exposed to higher beta sectors relative to positioning at earlier points in the recovery. An overabundance of complacency exists globally and warrants caution.

We remain defensively positioned, overweighting the industrial sector while maintaining a longstanding underweight in money center bank exposure. Money center bank balance sheets remain opaque, leverage ratios remain elevated and profitability going forward will be dictated more by cost-cutting than expanding market share or new lines of business. Spreads fail to reflect this new operating environment, never mind the massive regulatory overhaul that is already underway.

 

5


CORPORATE BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Corporate Index, which covers U.S. dollar-denominated, investment grade, fixed-rate, taxable securities sold by industrial, utility and financial issuers. The Index includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

            Average Annual Total Returns as of 3/31/13  
Corporate Bond Fund          Inception Date    1 Year      3 Year      5 Year      10 Year      Since
Inception
 

A Shares

   without sales charge    10/08/03      6.39%         7.27%         6.86%         N/A         6.02%   
     with sales charge*           1.32%         5.55%         5.83%         N/A         5.47%   

C Shares

   without CDSC    11/30/01      5.67%         6.52%         6.11%         5.59%         N/A   
     with CDSC*           4.68%         6.52%         6.11%         5.59%         N/A   

I Shares

        11/30/01      6.71%         7.56%         7.18%         6.53%         N/A   
Barclays Capital U.S. Corporate Index      7.47%         8.12%         7.88%         6.05%         6.02%   
                                                        
Prospectus Expense Ratio1                                          Gross  
A Shares                                                    0.89%   
C Shares                                                    1.58%   
I Shares                                                    0.63%   

 

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

6


GEORGIA TAX-EXEMPT BOND FUND

 

 

Portfolio Manager

 

Ÿ   Chris Carter, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The geographical concentration of portfolio holdings in the Fund may involve increased risk.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Fund’s I Shares had a total return of 5.44% versus an average return of 5.17% for the Lipper Georgia Municipal Debt Objective and a 5.25% total return for the Barclays Capital U.S. Municipal Bond Index (the “Index”). The long end of the municipal yield curve, defined as 22-year and longer maturities, provided the greatest total return during the period, with total returns generally increasing out of the curve (according to Barclays Capital). Relative to the Index, the Fund maintains a higher allocation to the cash equivalent, 7-year, 10-year, 20-year, and long bond sectors and a lower allocation to all other maturity sectors, as of March 31, 2013. Additionally, relative to the Index, the Fund maintained a higher allocation to securities rated AAA and A, and a lower allocation to securities in the AA and BAA rating categories. Standard & Poor’s rates securities from AAA (highest quality) to C (lowest quality) with BBB and above being called investment grade securities. BB and below are considered below investment grade securities. Trading activity and portfolio events during the period resulted in exposure to the less than 1-year, 1-year, 3-year, and 10-year sectors being increased, and exposure to the 5-year, 20-year, and long bond sectors being reduced. The 5, 10, and 30-year generic AAA rated municipal bond yields declined 0.14%, 0.20% and 0.30%, respectively, over the 12 months (according to Municipal Market Data Line).

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Yield curve positioning contributed to the Fund’s outperformance for the period. Although the Fund reduced exposure to bonds with final maturities of 17 years and longer, the Fund still maintains a small overweight of this maturity range relative to the Index. The long bond sector outperformed the 5-year sector by 4.22% for the fiscal year ended March 31, 2013 (according to Barclays Capital).

How do you plan to position the Fund, based on market conditions?

With municipal supply likely to remain manageable again this year, further investor flight-to-quality would likely increase the attractiveness of municipal bonds. Municipals as an asset class are relatively secure while offering among the highest after-tax returns over the past decade for top income earners. We continue to carefully watch the political environment in Washington, an impactful factor for all asset classes. The Fund’s present duration posture, yield curve positioning, and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as part of an active portfolio management process. All activity will occur within an investment grade construct and the average credit quality of the Fund’s holdings should remain high relative to its peers.

 

7


GEORGIA TAX-EXEMPT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Municipal Bond Index, which covers the U.S. dollar-denominated long-term tax-exempt bond market. The Index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and prerefunded bonds. The Index is unmanaged and does not reflect the deduction of fees such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

              Average Annual Total Returns as of 3/31/13  
Georgia Tax-Exempt Bond Fund            1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge        5.27%           5.25%           5.20%           3.93%   
     with sales charge*        0.25%           3.56%           4.17%           3.42%   

I Shares

            5.44%           5.38%           5.36%           4.10%   
Barclays Capital U.S. Municipal Bond Index        5.25%           6.23%           6.10%           5.01%   
                                                  
Prospectus Expense Ratio1                                          Gross  
A Shares                                              0.74%   
I Shares                                              0.58%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

1 This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

8


HIGH GRADE MUNICIPAL BOND FUND

 

 

Portfolio Manager

 

Ÿ   Ronald Schwartz, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

The geographical concentration of portfolio holdings in the Fund may involve increased risk.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Fund’s I Shares had a total return of 7.12% versus an average return of 6.31% for the Lipper General & Insured Municipal Debt Objective and 5.25% total return for the Barclays Capital U.S. Municipal Bond Index (the “Index”). The long end of the municipal yield curve, defined as 22-year and longer maturities, provided the greatest total return during the period, with total returns generally increasing out of the curve (according to Barclays Capital). Relative to the Index the Fund maintained a higher allocation to the cash equivalent, 6-8 years, 17-22 years, and long (22+ years) maturity buckets as of March 31, 2013. Additionally, relative to the Index, the Fund maintains an overweight to AAA and A rated securities while underweight the lower rated investment grade paper. The 5, 10, and 30-year generic AAA rated municipal bond yields declined 0.14%, 0.20% and 0.30%, respectively, over the fiscal year (according to Municipal Market Data Line).

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Yield curve positioning contributed to the Fund’s outperformance for the period versus the Index. The long bond sector outperformed the10-year sector by 2.05% for the fiscal year ended March 31, 2013 (according to Barclays Capital). Overweights of the hospital, education, leasing and transportation sectors also contributed to the Fund’s outperformance. The Fund’s high quality bias was a drag on performance versus both the Index and the peer group. Barclays BBB-rated Index returned 6.50% for the fiscal year ended March 31, 2013, versus the AAA Index return of 3.78% for the same period.

How do you plan to position the Fund, based on market conditions?

With municipal supply likely to remain manageable again this year, further investor flight-to-quality would likely increase the attractiveness of municipal bonds. Municipals as an asset class are relatively secure while offering among the highest after-tax returns over the past decade for top income earners. We continue to carefully watch the political environment in Washington, an impactful factor for all asset classes. The Fund’s present duration posture, yield curve positioning, and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as part of an active portfolio management process. All activity will occur within an investment grade construct and the average credit quality of the Fund’s holdings should remain high relative to its peers.

 

9


HIGH GRADE MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Municipal Bond Index, which covers the U.S. dollar-denominated long-term tax-exempt bond market. The Index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and prerefunded bonds. The Index is unmanaged and does not reflect the deduction of fees such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/13  
High Grade Municipal Bond Fund         1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge     6.97%           7.22%           6.45%           4.56%   
     with sales charge*     1.86%           5.49%           5.42%           4.05%   

I Shares

         7.12%           7.35%           6.59%           4.72%   
Barclays Capital U.S. Municipal Bond Index          5.25%           6.23%           6.10%           5.01%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           0.79%   
I Shares                                           0.65%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

10


HIGH INCOME FUND

 

 

Portfolio Managers

 

Ÿ   Brian Nold, M.D.

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

Although the Fund’s yield may be higher than that of fixed income funds that purchase higher-rated securities, the potentially higher yield is a function of the greater risk that the Fund’s share price will decline.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSIONOF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The 13.17% return of the High Income Fund (I Shares) for the fiscal year ended March 31, 2013 was 0.04% ahead of the 13.13% return of the Barclays Capital U.S. Corporate High Yield Bond Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The Fund’s positive return can be attributed to beneficial security selection in a number of industries, including Finance, Energy, Health Care, Telecommunications and Media as well as an overweighting in Telecommunications. Partially offsetting the positive factors was unfavorable security selection in Technology and Gaming as well as the modest holding of cash in a rising market.

How do you plan to position the Fund, based on market conditions?

Given the double digit returns for the fiscal year ended March 31, 2013, we have generally worked to increase protection against interest rate and default risk. The Fund is overweighed in B-rated bonds that are less sensitive to changes in interest rates compared to BB-rated bonds. Over the past twelve months, we lowered exposure to CCC rated bonds so that the Fund is less exposed to a possible spike in defaults that could be linked to a downturn in the economy. We are maintaining the Fund’s underweighting in cyclical sectors, such as Chemicals, Construction and Paper, as well as non-US issuers, especially European banks. The Fund is overweighed the benchmark in non-cyclical Food and Service sectors as well as in industries with solid asset coverage, including Broadcasting, Energy and Telecommunications. Energy and Telecommunications. Cash is being made available from calls as well as strategic sales when positions reach their target returns. Proceeds are being reinvested primarily in opportunities provided through the new issue market.

 

11


HIGH INCOME FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

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This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Corporate High Yield Bond Index, which covers the U.S. dollar-denominated, non-investment grade, fixed-rate, taxable corporate bond market. Securities are classified as high yield if the middle rating of Moody’s, Fitch, and S&P is Ba1/BB+/BB+ or below. The Index excludes Emerging Markets debt. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
High Income Fund         Inception Date      1 Year      3 Year      5 Year      10 Year      Since
Inception
 

A Shares

   without sales charge   10/27/03        12.88%         10.22%         11.22%         N/A         9.16%   
     with sales charge*            7.57%         8.44%         10.14%         N/A         8.60%   

R Shares^

       05/04/94        12.61%         9.83%         10.79%         9.44%         N/A   

I Shares

       10/03/01        13.17%         10.54%         11.55%         10.28%         N/A   
Barclays Capital U.S. Corporate High Yield Bond Index        13.13%         11.24%         11.65%         10.12%         9.12%   
                                                         
Prospectus Expense Ratio1                                      Gross  
A Shares                                                     1.01%   
R Shares                                                     1.31%   
I Shares                                                     0.81%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

^ Effective at the close of business on 7/31/09, C Shares converted to R Shares and C Shares are no longer available for purchase. The performance shown prior to such date is based on the performance of the C Shares of the Fund and has not been adjusted to reflect R Share expenses.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

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12


INTERMEDIATE BOND FUND

 

Portfolio Managers

 

Ÿ   James F. Keegan
Ÿ   Adrien Webb, CFA
Ÿ   Perry Troisi
Ÿ   Michael Rieger
Ÿ   Seth Antiles, Ph.D

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Intermediate Bond Fund returned 3.24% (I Shares) versus 3.53% for the Barclays Capital Intermediate U.S. Government/Credit Bond Index (the “Index”). For a 5-year period, performance of the Fund has exceeded the Index at 5.26% versus 4.61%.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Given the generosity of central banks globally, the fiscal year was marked by a broad “risk rally” that rewarded nearly all spread sectors, with the lower rated, higher beta segments of the market benefitting the most and providing robust excess returns. With that backdrop, the Fund’s overweight in spread product (all fixed income securities that trade at a spread over a comparable U.S. Treasury Security) was a positive contributor to performance. Security selection within corporate bonds was a modest drag as positioning was fairly defensive. A void in government-related risk was also a drag on performance. Opportunistic exposure to agency-only residential mortgage-backed securities (RMBS) again contributed positively to the Fund’s performance. Strategic yield curve positioning was not a part of performance this year.

How do you plan to position the Fund, based on market conditions?

Current valuations are hyper inflated over the intermediate and long term. Juxtaposing these valuations against the fragile and challenged macroeconomic environment that persists, we find comfort in remaining defensive and less exposed to risk markets/spread sectors relative to positioning at earlier points in the recovery. An overabundance of complacency exists globally and warrants caution.

The Fund is currently at an index weighting in corporate bonds, down slightly from 1.2x the index weight at the beginning of the fiscal year. This is a low in corporate bond exposure compared to the last several years. The positioning remains defensive, focusing on industrial exposure while maintaining a longstanding underweight in money center bank exposure. The Fund continues to have an opportunistic overweight in agency—only residential mortgage-backed securities (RMBS). The RMBS exposure is primarily 15-year collateral. The Fund is void the government-related sector, as the spread offered does not adequately compensate for the risk.

 

13


INTERMEDIATE BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital Intermediate U.S. Government/Credit Bond Index, which measures the performance of U.S. dollar-denominated U.S. Treasuries, government-related (the U.S. and foreign agencies, sovereign, supranational and local authority debt), and investment-grade credit securities that have a remaining maturity of greater than or equal to 1 year and less than 10 years, and have $250 million or more of outstanding face value. In addition, the securities must be fixed rate and non-convertible. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Intermediate Bond Fund         Inception Date      1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge   06/30/99        2.85%           4.19%           4.98%           4.56%   
     with sales charge*            –2.02%           2.50%           3.97%           4.06%   

R Shares

       06/30/99        2.58%           3.77%           4.52%           4.12%   

I Shares

       06/30/99        3.24%           4.47%           5.26%           4.81%   
Barclays Capital Intermediate U.S. Government/Credit Bond Index        3.53%           4.75%           4.61%           4.49%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.63%   
R Shares                                                  1.04%   
I Shares                                                  0.35%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

A Shares and R Shares were offered beginning on 10/11/04. The performance shown prior to such date for A Shares and R Shares is based on the performance of the Class I Shares of the Seix Intermediate Bond Fund, an open-end investment company that was the predecessor fund to the Intermediate Bond Fund and performance is based on the performance of I Shares. During the period 10/16/07 through 1/17/08, R Shares did not have any shareholders. Historical performance based on the predecessor fund or on the I Shares has not been adjusted to reflect A Share or R Share expenses. If it had been, the performance would have been lower.
1 This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

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14


INVESTMENT GRADE TAX-EXEMPT BOND FUND

 

Portfolio Manager

 

Ÿ   Ronald Schwartz, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Fund’s I Shares had a total return of 4.87% versus an average return of 4.28% for the Lipper Intermediate Municipal Debt Objective and 4.19% total return for the Barclays Capital U.S. 1-15 Year Municipal Bond Index (the “Index”). The long end of the municipal yield curve, defined as 22-year and longer maturities, provided the greatest total return during the period, with total returns generally increasing out of the curve (according to Barclays Capital). Relative to the Index the Fund maintained a higher allocation to the cash equivalent, 6-8 years, 8-12 years, 17-22 years, and long (22+ years) maturity buckets as of March 31, 2013. Additionally, relative to the Index, the Fund maintains an overweight to AAA rated securities while underweight the lower rated investment grade paper. 5, 10, and 30-year generic AAA rated municipal bond yields declined 0.14%, 0.20% and 0.30%, respectively, over the fiscal year (according to Municipal Market Data Line).

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Yield curve positioning contributed to the Fund’s outperformance for the period versus the Index. The long bond sector outperformed the 5-year sector by 4.28% for the fiscal year ended March 31, 2013 (according to Barclays Capital). Overweights of the hospital, education, special tax, and water/sewer sectors also contributed to the Fund’s outperformance. The Fund’s high quality bias was a drag on performance versus both the Index and the peer group. Barclays BBB-rated Index returned 6.50% for the fiscal year ended March 31, 2013, versus the AAA Index return of 3.78% for the same period.

How do you plan to position the Fund, based on market conditions?

With municipal supply likely to remain manageable again this year, further investor flight-to-quality would likely increase the attractiveness of municipal bonds. Municipals as an asset class are relatively secure while offering among the highest after-tax returns over the past decade for top income earners. We continue to carefully watch the political environment in Washington, an impactful factor for all asset classes. The Fund’s present duration posture, yield curve positioning, and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as a part of an active portfolio management process. All activity will occur within an investment grade construct and the average credit quality of the Fund’s holdings should remain high relative to its peers.

 

15


INVESTMENT GRADE TAX-EXEMPT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Barclays Capital U.S. Municipal Bond 1-15 Year Blend Index is composed of tax-exempt bonds with maturities ranging between 1 and 15 years. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Investment Grade Tax-Exempt Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge          4.75%           5.61%           5.69%           4.47%   
     with sales charge*            –0.20%           3.91%           4.66%           3.96%   

I Shares

                4.87%           5.85%           5.96%           4.79%   
Barclays Capital U.S. Municipal Bond 1-15 Year Blend Index            4.19%           5.26%           5.43%           4.59%   
                                                      
Prospectus Expense Ratio1                                         Gross  
A Shares                                                  0.91%   
I Shares                                                  0.66%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

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16


LIMITED DURATION FUND

 

 

Portfolio Managers

 

Ÿ   James F. Keegan
Ÿ   Adrien Webb, CFA
Ÿ   Perry Troisi
Ÿ   Michael Rieger
Ÿ   Seth Antiles, Ph.D

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Limited Duration Fund returned 1.08% (I Shares) versus 0.08% for the Bank of America Merrill Lynch 3-Month U.S. Treasury Bill Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Income was the performance driver as the Fund was invested in various short average life securitized assets that offer income at a reasonable price.

How do you plan to position the Fund, based on market conditions?

Current valuations are hyper inflated over the intermediate and long term. Juxtaposing these valuations against the fragile and challenged macroeconomic environment that persists, we find reason for caution. In our view, central bank aggression has fostered an overabundance of complacency globally.

Floating rate agency collateralized mortgage obligations (CMOs) make up the majority of the Fund’s allocation, in addition to several high quality asset-backed security floaters that make up the balance of the holdings. The conservative nature of the Fund is consistent with our “income at a reasonable price” theme we have relied on for most of this economic crisis.

 

17


LIMITED DURATION FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Bank of America Merrill Lynch 3 Month U.S. Treasury Bill Index, which tracks the monthly price-only and total return performance of a three-month Treasury bill, based on monthly average auction rates. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                Average Annual Total Returns as of 3/31/13  
Limited Duration Fund        Inception Date    1 Year        3 Year        5 Year        10 Year  

I Shares

      10/25/02      1.08%           1.01%           0.86%           1.94%   
Bank of America Merrill Lynch 3 Month U.S. Treasury Bill Index          0.08%           0.09%           0.29%           1.66%   
                                                   
Prospectus Expense Ratio1                                            Gross  
I Shares                                               0.28%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

I Shares were offered beginning on 10/11/04. The performance shown prior to such date is based on the performance of the Seix Limited Duration Fund, an open-end investment company that was the predecessor fund to the Limited Duration Fund
1 This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

18


LIMITED-TERM FEDERAL MORTGAGE SECURITIES FUND

 

Portfolio Managers

 

Ÿ   James F. Keegan
Ÿ   Perry Troisi
Ÿ   Adrien Webb, CFA
Ÿ   Michael Rieger
Ÿ   Seth Antiles, Ph.D

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Limited-Term Federal Mortgage Securities Fund returned 2.26% (I Shares) versus 1.97% for the Barclays Capital U.S. Mortgage Backed Securities Index. For a 3-year period, performance of the Fund has exceeded the index at 4.65% versus 4.17%.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Over the last year, performance was driven by the Fund’s usage of structure in lieu of 30-year current coupon pass-through exposure. Additionally, a significant overweight in 15-year collateral as well as a consistent allocation to commercial mortgage-backed securities (CMBS) also added to performance. This diversification and off-index allocation provided a significant convexity advantage while remaining underweight the most negatively convex portion of the index.

How do you plan to position the Fund, based on market conditions?

Current valuations are hyper inflated over the intermediate and long term. Juxtaposing these valuations against the fragile and challenged macroeconomic environment that persists, we find comfort in remaining defensive and less negatively convex relative to the benchmark. In our view, an overabundance of complacency exists globally.

We remain overweight 15-year collateral, structure (collateralized mortgage obligations [CMOs]) and commercial mortgage-backed securities (CMBS) exposure. We still prefer this more convex, or defensive posture, until a more symmetric risk reward profile exerts itself. The Federal Reserve remains the 800-pound gorilla in the mortgage market, but we find more value outside their current operational focus (30-year current coupon collateral).

 

19


LIMITED-TERM FEDERAL MORTGAGE SECURITIES FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Mortgage Backed Securities Index, which covers agency pass-through securities (both fixed-rate and hybrid ARM) issued by Ginnie Mae (GNMA), Fannie Mae (FNMA), and Freddie Mac (FHLMC). The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

           Average Annual Total Returns as of 3/31/13  
Limited-Term Federal Mortgage Securities Fund         1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge     2.06%            4.45%           5.16%           3.94%   
     with sales charge*     –0.46%            3.55%           4.64%           3.68%   

C Shares

   without CDSC     1.25%            3.61%           4.32%           3.21%   
     with CDSC*     0.25%            3.61%           4.32%           3.21%   

I Shares

         2.26%            4.65%           5.36%           4.16%   
Barclays Capital U.S. Mortgage Backed Securities Index     1.97%            4.17%           5.15%           4.98%   
                                               
Prospectus Expense Ratio1                                       Gross  
A Shares                                           0.94%   
C Shares                                           1.72%   
I Shares                                           0.74%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 2.50% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

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20


NORTH CAROLINA TAX-EXEMPT BOND FUND

 

 

Portfolio Manager

 

Ÿ   Chris Carter, CFA

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The geographical concentration of portfolio holdings in this Fund may involve increased risk.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSIONOF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Fund’s I Shares had a total return of 4.88% versus an average return of 5.09% for the Lipper North Carolina Municipal Debt Objective and a 5.25% total return for the Barclays Capital U.S. Municipal Bond Index (the “Index”). The long end of the municipal yield curve, defined as 22-year and longer maturities, provided the greatest total return during the period, with total returns generally increasing out of the curve (according to Barclays Capital). Relative to the Index the Fund maintained a higher allocation to the cash equivalent, 1-year, 7-year, and 20-year sectors, and a lower allocation to all other maturity sectors, as of March 31, 2013. Additionally, relative to the Index the Fund maintains a higher allocation to securities rated AAA and BAA, and a lower allocation to securities in the AA and A rating categories. Trading activity and portfolio events during the period resulted in exposure to the 1-year, 7-year, and 15-year sectors being increased, and exposure to the 3-year, 20-year, and long bond sectors being reduced. The 5, 10, and 30-year generic AAA rated municipal bond yields declined 0.14%, 0.20% and 0.30%, respectively, over the fiscal year (according to Municipal Market Data Line).

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The Fund’s more conservative approach was punitive during the period and led to modest underperformance. Over the past fiscal year, the Fund reduced exposure to bonds with final maturities of 17 years and longer. The Fund still maintains an overweight of the 20-year sector. The long bond sector outperformed the 5-year sector by 4.22% for the fiscal year ended March 31, 2013 (according to Barclays Capital). Many peers had a greater level of exposure to longer maturities. In addition, the Fund holds fewer BAA-rated bonds than many of its peers. BAA-rated securities outperformed AAA-rated securities by 2.83% during the period (according to Barclays Capital).

How do you plan to position the Fund, based on market conditions?

With municipal supply likely to remain manageable again this year, further investor flight-to-quality would likely increase the attractiveness of municipal bonds. Municipals as an asset class are relatively secure while offering among the highest after-tax returns over the past decade for top income earners. We continue to carefully watch the political environment in Washington, an impactful factor for all asset classes. The Fund’s present duration posture, yield curve positioning, and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as a part of an active portfolio management process. All activity will occur within an investment grade construct and the average credit quality of the Fund’s holdings should remain high relative to its peers.

 

21


NORTH CAROLINA TAX-EXEMPT BOND FUND

 

 

Growth of $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 1/8/04 (inception date). Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Municipal Bond Index, which covers the U.S. dollar-denominated long-term tax-exempt bond market. The Index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and prerefunded bonds. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                    Average Annual Total Returns as of 3/31/13  
North Carolina Tax-Exempt Bond Fund    Inception Date      1 Year        3 Year        5 Year        Since
Inception
 

A Shares

   without sales charge    01/08/04        4.63%           5.16%           5.31%           4.08%   
     with sales charge*             –0.33%           3.47%           4.29%           3.53%   

I Shares

        01/08/04        4.88%           5.31%           5.45%           4.16%   
Barclays Capital U.S. Municipal Bond Index             5.25%           6.23%           6.10%           4.97% 1 
                                                       
Prospectus Expense Ratio2                                          Gross  
A Shares                                              0.77%   
I Shares                                              0.62%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75% .

 

I Shares and A Shares were offered beginning on 3/21/05. The performance shown prior to such date for I Shares and A Shares is based on the performance of the CCMI Tax-Exempt North Carolina Bond Fund, the predecessor fund. Historical performance has not been adjusted to reflect A Share expenses. If it had been, the performance would have been lower.

 

1  The performance return and the hypothetical $10,000 investment for the Barclays Capital U.S. Municipal Bond Index is for the period from 12/31/03 to 3/31/13.
2  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

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22


SEIX FLOATING RATE HIGH INCOME FUND

 

 

Portfolio Managers

 

Ÿ   George Goudelias

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

Although the Fund’s yield may be higher than that of fixed income funds that purchase higher-rated securities, the potentially higher yield is a function of the greater risk that the Fund’s share price will decline.

Floating rate loans are typically senior and secured, in contrast to other below-investment grade securities. However, there is no guarantee that the value of the collateral will not decline, causing a loan to be substantially unsecured. Loans generally are subject to restrictions on resale, and they sometimes trade infrequently in the secondary market. Certain types of loans may limit the ability of the Fund to enforce its rights and may involve assuming additional credit risks.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSIONOF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The 7.67% net return of the Seix Floating Rate High Income Fund (I Shares) for the fiscal year ended March 31, 2013 was 0.11% ahead of the 7.56% return of the Credit Suisse First Boston (“CSFB”) Institutional Leveraged Loan Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The Fund’s outperformance can be attributed to beneficial security selection in a number of industries, including Telecommunications, Media, Utilities, Health Care and Finance. Partially offsetting the positive factors was unfavorable security selection in Energy and the modest cash holding in a rising market.

How do you plan to position the Fund, based on market conditions?

We focus on higher quality, BB-rated instruments as well as the few remaining short maturity, discount loans that we expect will be called by the end of the 2013 and 2014. Bond exposure has been reduced as relative value currently favors loans. The Fund remains underweighted in non-US issuers, especially European companies, because we believe that European Central Bank countries will continue to struggle to generate growth and employment. We are concentrating on non-cyclical, defensive issuers with strong balance sheets to add protection against the negative impact of a possible economic slowdown.

 

23


SEIX FLOATING RATE HIGH INCOME FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/1/06 (inception date). Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The CSFB Institutional Leveraged Loan Index is a market value-weighted index designed to represent the investable universe of the U.S. Dollar-denominated leveraged loan market. The Index reflects reinvestment of all distributions and changes to market prices. CSFB Institutional Leveraged Loan Index is a sub index of the CSFB Leveraged Loan Index which contains only institutional loan facilities priced above 90, excluding Term Loan and Term Loan-A facilities and loans rated CC, C or in default. It is designed to more closely reflect the investment criteria of institutional investments. These indices are unmanaged and do not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Seix Floating Rate High Income Fund   Inception Date      1 Year        3 Year        5 Year        Since
Inception
 

A Shares

   without sales charge   03/01/06        7.39%           6.22%           5.91%           4.54%   
     with sales charge*            4.67%           5.31%           5.38%           4.16%   

C Shares

   without CDSC   03/01/06        6.69%           5.48%           5.21%           4.04%   
     with CDSC*            5.69%           5.48%           5.21%           4.04%   

I Shares

       03/01/06        7.67%           6.51%           6.22%           4.84%   
CSFB Institutional Leveraged Loan Index            7.56%           5.87%           3.98%           3.22% ** 
                                                      
Prospectus Expense Ratio1                                         Gross  
A Shares                                                  0.87%   
C Shares                                                  1.52%   
I Shares                                                  0.65%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 2.50% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

  The A Shares and C Shares were offered beginning on 5/8/06 and 8/2/07, respectively. The performance shown prior to such dates is based on the performance of the I Shares of the Fund, and has not been adjusted to reflect A Share or C Share expenses. If it had been, the performance would have been lower.
** The performance return and the hypothetical $10,000 investment for the CSFB Institutional Leveraged Loan Index is for the period from 2/28/06 to 3/31/13.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

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24


SEIX HIGH YIELD FUND

 

Portfolio Managers

 

Ÿ   Michael Kirkpatrick
Ÿ   Brian Nold, M.D.

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

Although the Fund’s yield may be higher than that of fixed income funds that purchase higher-rated securities, the potentially higher yield is a function of the greater risk that the Fund’s share price will decline.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The 12.80% net return of the Seix High Yield Fund (I Shares) for the fiscal year ended March 31, 2013 was 0.48% ahead of the 12.32% return of the Bank of America Merrill Lynch BB-B U.S. High Yield Constrained Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The Fund’s outperformance can be attributed to beneficial security selection in a number of industries, including Finance, Energy, Healthcare, Retail and Mining as well as an overweighting in Telecommunications and an underweighting in Food. Partially offsetting the positive factors were unfavorable security selection in Technology and the modest cash position in a rising market.

How do you plan to position the Fund, based on market conditions?

Given the double digit returns for the year ended March 31, 2013 we have generally worked to reduce both interest rate and default risk. The Fund is overweighed in B-rated bonds that are less sensitive to changes in interest rates compared to BB-rated bonds and less exposed to a possible recession linked spike in defaults compared to CCC-rated bond. We are maintaining the fund’s underweighting in cyclical sectors and non-US issuers, especially European banks. The Fund is overweighted in specialty finance companies and industries with solid asset coverage, including Cable and Utilities. Cash is being made available from calls as well as strategic sales when positions reach their target returns. Proceeds are being reinvested primarily in opportunities provided through the new issue market.

 

25


SEIX HIGH YIELD FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Bank of America Merrill Lynch BB-B U.S. High Yield Constrained Index, which tracks the performance of BB1 through B3 U.S. Dollar-denominated corporate bonds publicly issued in the U.S. domestic market and is restricted to a maximum of 2% per issuer. This Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Seix High Yield Fund   Inception Date      1 Year1        3 Year        5 Year        10 Year  

A Shares

   without sales charge   12/29/00        12.56%           10.13%           9.03%           7.26%   
     with sales charge*            7.23%           8.36%           7.97%           6.74%   

R Shares^

       12/29/00        12.36%           9.76%           8.45%           6.72%   

I Shares

       12/29/00        12.80%           10.37%           9.19%           7.43%   
Bank of America Merrill Lynch BB-B U.S. High Yield Constrained Index        12.32%           10.67%           10.09%           8.95%   
                                                      
Prospectus Expense Ratio1                                         Gross  
A Shares                                                  0.79%   
R Shares                                                  1.19%   
I Shares                                                  0.57%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

  The I Shares, A Shares and R Shares were offered beginning on 10/11/04. The performance shown prior to such date is based on the performance of the Class I Shares of the Seix High Yield Fund, an open-end investment company that was the predecessor fund to the Seix High Yield Fund. The historical performance has not been adjusted to reflect A Share or R Share expenses. If it had been, the performance would have been lower.
^ Effective at the close of business on 7/31/09, C Shares converted to R Shares and C Shares are no longer available for purchase. The performance shown prior to such date is based on the performance of the C Shares of the Fund and has not been adjusted to reflect R Share expenses.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

26


SHORT-TERM BOND FUND

 

 

Portfolio Managers

 

Ÿ   H. Rick Nelson
Ÿ   Chad K. Stephens

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The Fund outperformed its benchmark index, the Barclays Capital 1-3 Year Government/Credit Index. The Fund (I Shares) generated a return of 1.65% for the fiscal year ended March 31, 2013 while the benchmark index return was 1.10% over the same period.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Total return of the Fund was driven both by income and price appreciation. Interest rates declined slightly over the past fiscal year with the two year Treasury yields declining 0.09% from 0.33% to 0.24% as March 31, 2013.

Holdings of U.S. Treasury and U.S. Government Agency debentures remained low for the fiscal year ended March 31, 2013 while spread products (all fixed income securities that trade at a spread over a comparable U.S. Treasury Security) consisting of investment grade corporate credit and securitized assets contributed to the Fund’s performance.

Corporate credit spreads widened during the second quarter of 2012 before tightening over the next three quarters ending March 31, 2013. The financial sector was the most volatile stemming from continued fears of the European sovereign debt crisis, as well as an unclear regulatory environment as Dodd Frank rules are still being written. Yet when the results of the Federal Reserve’s (Fed) second annual stress tests were released, the majority of the largest commercial banks were shown to have historically strong capital ratios, improving asset quality and healthy levels of liquidity. Credit spreads on financials tightened during the last three quarters. The Fund held no European based financial credits since 2011.

For one year period ended March 31, 2013, in securitized assets, U.S. Government Agency residential mortgage-backed securities performed well, benefiting primarily from the Fed’s quantitative easing 3 program and low interest rate volatility. Agency commercial mortgage-backed securities also had a great year due to better market liquidity and increasing market demand for high quality, more predictable cash flow products. Non-agency residential mortgage-backed securities outperformed all other types of non-agency securitized assets in the period ended March 31, 2013, driven by limited supply and investors search for higher yielding securities. Spreads on commercial mortgage-backed securities continued to tighten during the period. Spread tightening was driven partially by market demand for yield and partially driven by improving market fundamentals. Mezzanine tranches outperformed senior tranches given less call risk from refinancing or liquidation. High quality asset backed securities (auto and credit card backed securities) were stable performers. The spread remained tight range bound for most of the last fiscal year.

How do you plan to position the Fund, based on market conditions?

We look to keep a short to neutral duration stance as risks remain higher for longer duration assets in a rising rate environment. We also feel that a neutral, laddered position is warranted given that shifts and twists in the curve may be short-lived and range-bound over the coming months.

We look to maintain limited exposure to U.S. Treasuries. As historically low rates linger, investors are only offered asymmetrical return potential; limited upside along with little coupon to insulate against the potential of rising rates. We will continue with our bias towards lower beta corporate credits such as non-cyclical industrials and companies with transparent and consistent earnings potential. Within securitized assets, we continue to overweight Agency and non-Agency mortgage credits, which aided performance in the quarter. Securitized assets could face a headwind should interest rates begin to rise. We continue to seek lower premium, lower coupon and floating rate mortgage-backed securities credits to provide protection from rising rates and refinancing risk.

 

27


SHORT-TERM BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital 1-3 Year Government/Credit Index. The Barclays Capital 1-3 Year Government/Credit Index (‘‘Barclays Index’’) is the 1-3 year component of the U.S. Government/Credit Index. The Barclays Index includes securities in the Barclays Capital Government and Credit Indices. The Government Index includes treasuries (i.e., public obligations of the U.S. Treasury that have remaining maturities of more than one year) and agencies (i.e., publicly issued debt of U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government). The Barclays Index includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Short-Term Bond Fund                 1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge          1.40%           1.97%           2.68%           2.85%   
     with sales charge*            –1.16%           1.09%           2.17%           2.58%   

C Shares

   without CDSC          0.65%           1.16%           1.88%           2.15%   
     with CDSC*            –0.36%           1.16%           1.88%           2.15%   

I Shares

                1.65%           2.18%           2.90%           3.08%   
Barclays Capital 1-3 Year Government/Credit Index            1.10%           1.65%           2.37%           3.06%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.76%   
C Shares                                                  1.48%   
I Shares                                                  0.48%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 2.50% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

28


SHORT-TERM MUNICIPAL BOND FUND

 

Portfolio Manager

• Ronald Schwartz, CFA

• Dusty L. Self

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The geographical concentration of portfolio holdings in this fund may involve increased risk.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Fund’s I Shares had a total return of 3.01% versus an average return of 1.27% for the Lipper Short Municipal Debt Objective and 1.68% total return for the Barclays Capital 1-5 Year Municipal Bond Index (the “Index”). Relative to the Index the Fund maintained a higher allocation to the cash equivalent, 1-year, 6-8 years, and 8-12 years maturity buckets as of March 31, 2013. Additionally, relative to the Index the Fund maintains an overweight to AAA and A rated securities while underweight the lower rated investment grade paper. The 3, 5, and 10-year generic AAA rated municipal bond yields declined 0.07%, 0.14% and 0.20%, respectively, over the 12 months (according to Municipal Market Data Line).

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Yield curve positioning contributed to the Fund’s outperformance for the period versus the Index. The 5 year bond sector outperformed the 1-year sector by 2.43% for the fiscal year ended March 31, 2013 (according to Barclays Capital). Overweights of the education, local general obligations, special tax, and transportation sectors also contributed to the Fund’s outperformance. The Fund’s high quality bias was a drag on performance versus both the Index and the peer group. Barclays BBB-rated Index returned 6.50% for the fiscal year ended March 31, 2013, versus AAA Index return of 3.78% for the same period.

How do you plan to position the Fund, based on market conditions?

With municipal supply likely to remain manageable again this year, further investor flight-to-quality would likely increase the attractiveness of municipal bonds. Municipals as an asset class are relatively secure while offering among the highest after-tax returns over the past decade for top income earners. We continue to carefully watch the political environment in Washington, an impactful factor for all asset classes. The Fund’s present duration posture, yield curve positioning, and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as a part of an active portfolio management process. All activity will occur within an investment grade construct and the average credit quality of the Fund’s holdings should remain high relative to its peers.

 

29


SHORT-TERM MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

     LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital 1-5 Year Municipal Bond Index, which covers investment grade tax-exempt municipal bonds with maturities of 1-6 years. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Short-Term Municipal Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares*

   without sales charge          2.86%           4.33%           4.96%           4.11%   
     with sales charge**            0.24%           3.45%           4.43%           3.85%   

I Shares

                3.01%           4.49%           5.07%           4.16%   
Barclays Capital 1-5 Year Municipal Bond Index            1.68%           2.42%           3.28%           3.11%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.79%   
I Shares                                                  0.60%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Prior to August 1, 2009, there were no assets in Class A Shares. The performance shown prior to such date is based on the performance of the I Shares of the Fund and has not been adjusted to reflect A Shares expenses. If it had been, performance would have been lower.

 

** Class A Shares performance reflects the maximum front-end sales charge of 2.50%.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

30


SHORT-TERM U.S. TREASURY SECURITIES FUND

 

 

Portfolio Managers

 

Ÿ   H. Rick Nelson
Ÿ   Chad K. Stephens

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSIONOF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The Fund underperformed its benchmark index, the Barclays Capital 1-3 Year U.S. Treasury Bond Index. The Fund (I Shares) generated a return of 0.15% for the fiscal year ended March 31, 2013 while the benchmark index return was 0.64% over the same period.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Interest rates declined slightly over the past twelve months with the two year Treasury yields declining 0.09% from 0.33% to 0.24% as of March 31, 2013. The shorter than benchmark duration contributed to the Fund’s underperformance.

How do you plan to position the Fund, based on market conditions?

With rates at low levels, we maintained our short-to-neutral duration during the fiscal year. Given the balance of positive and negative influences on the U.S. economy, a “wait and see” approach toward interest rate strategy seems prudent. Similarly, we also maintained our laddered yield curve positioning, a neutral approach we believe is appropriate given the Fed’s ongoing quantitative easing. Looking ahead, we believe rate volatility remains unpredictable and prone to directional changes as improving U.S. economic data clash with a challenging federal fiscal policy. In addition events abroad can quickly create flight-to-quality scenarios that alter the slope of the yield curve. We will continue to tactically allocate along the ladder as rates rise and fall in the coming year.

 

31


SHORT-TERM U.S. TREASURY SECURITIES FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

     LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital 1-3 Year U.S. Treasury Index. The Barclays Capital 1-3 Year U.S. Treasury Index is the 1-3 year component of the Barclays Capital U.S. Treasury Index. It includes securities in the Treasury Index (i.e., public obligations of the U.S. Treasury) with a maturity from one up to (but not including) 3 years. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Short-Term U.S. Treasury Securities Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge          –0.03%           0.58%           1.17%           2.05%   
     with sales charge*            –2.57%           –0.26%           0.67%           1.80%   

C Shares

   without CDSC          –0.33%           –0.03%           0.46%           1.42%   
     with CDSC*            –1.32%           –0.03%           0.46%           1.42%   

I Shares

                0.15%           0.76%           1.35%           2.23%   
Barclays Capital 1-3 Year U.S. Treasury Index            0.64%           1.26%           1.76%           2.68%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.89%   
C Shares                                                  1.19%   
I Shares                                                  0.73%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 2.50% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

32


TOTAL RETURN BOND FUND

 

 

Portfolio Managers

 

Ÿ   James F. Keegan
Ÿ   Adrien Webb, CFA
Ÿ   Perry Troisi

 

 

INVESTMENT CONCERNS

 

Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Total Return Bond Fund returned 4.01% (I Shares) versus 3.77% for the Barclays Capital U.S. Aggregate Bond Index (the “Index”). For longer time periods, performance of the Fund has exceeded the Index at 6.24% versus 5.52% over 3 years and 6.76% versus 5.47% over 5 years.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Given the generosity of central banks globally, the fiscal year was marked by a broad “risk rally” that rewarded nearly all spread sectors, with the lower rated, higher beta segments of the market benefitting the most and providing robust excess returns. With that backdrop, the Fund’s overweight in spread product (all fixed income securities that trade at a spread over a comparable U.S. Treasury Security) was a positive contributor to performance. Security selection within corporate bonds was a modest drag as positioning was fairly defensive, while mortgage-backed security (MBS) selection contributed to the Fund’s return via several off-index allocations (collateralized mortgage obligations [CMOs] and delegated underwriting and servicing [DUS] bonds). A void in government-related risk was also a drag on performance. Strategic yield curve positioning was not a part of performance this year. Several global strategies that opportunistically took advantage of excessive volatility, particularly in Europe, also contributed to performance.

How do you plan to position the Fund, based on market conditions?

Current valuations are hyper inflated over the intermediate and long term. Juxtaposing these valuations against the fragile and challenged macroeconomic environment that persists, we find comfort in remaining defensive and less exposed to risk markets/spread sectors relative to positioning at earlier points in the recovery. An overabundance of complacency exists globally.

The Fund is currently at an index weighting in corporate bonds, down slightly from 1.3x the index weight at the beginning of the fiscal year. This is a low in corporate bond exposure compared to the last several years. The positioning remains defensive, focusing on industrial exposure while maintaining a longstanding underweight in money center bank exposure. While still overweight residential mortgage-backed securities (RMBS), we have reduced the weighting versus the index from 1.3x to 1.1x over the course of the fiscal year. Positioning within RMBS continues to overweight 15-year collateral and the usage of structure (CMOs) for prepayment protection and convexity. A modest overweight in commercial mortgage-backed securities (CMBS) persists and the exposure remains near the top of the capital structure. The Fund is void the government-related sector, as the spread offered does not adequately compensate for the risk.

The Fund’s exposure to high yield was switched to bank loans at the beginning of the fiscal year. Offsetting this long bank loan exposure is a tactical short position in high yield bonds currently. The Fund continues to utilize tactical global strategies in various foreign rate and currency markets.

 

33


TOTAL RETURN BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Aggregate Bond Index, which covers the U.S. dollar-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The Index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed-rate and hybrid ARM pass-through), ABS and CMBS sectors. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Total Return Bond Fund         Inception Date      1 Year      3 Year        5 Year        10 Year  

A Shares

   without sales charge   12/30/1997      3.76%        5.97%           6.43%           5.23%   
     with sales charge*          –1.13%        4.28%           5.40%           4.72%   

R Shares

       12/30/1997      3.34%        5.67%           6.10%           4.91%   

I Shares

       12/30/1997      4.01%        6.24%           6.76%           5.57%   
Barclays Capital U.S. Aggregate Bond Index               3.77%        5.52%           5.47%           5.02%   
                                                  
Prospectus Expense
Ratio1
                                            Gross  
A Shares                                              0.67%   
R Shares                                              0.90%   
I Shares                                              0.39%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

The I Shares and R Shares were offered beginning on 10/11/04. The performance shown prior to such date is based on the performance of the Class I Shares of the Seix Core Bond Fund, the predecessor fund to the Total Return Bond Fund. The A Shares were offered beginning on 10/11/04. The performance shown from 1/25/02 to such date is based on the performance of the Class P Shares of the Seix Core Bond Fund. The performance shown prior to 1/25/02 is based on the performance of the Class I Shares of the Seix Core Bond Fund. The historical performance
  has not been adjusted to reflect A Share or R Share expenses. If it had been, the performance would have been lower

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

34


ULTRA-SHORT BOND FUND

 

 

Portfolio Managers

 

Ÿ   H. Rick Nelson
Ÿ   Chad K. Stephens

 

 

INVESTMENT CONCERNS

 

Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The Fund outperformed its benchmark index, the Barclays Capital 3-6 Month U.S. Treasury Bill Index. The Fund (I Shares) generated a return of 1.39% for the fiscal year ended March 31, 2013 while the benchmark index return was 0.18% over the same period.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Total return of the Fund was driven both by income and price appreciation. Interest rates declined over the past twelve months with the one year Treasury yields declining 0.05% from 0.17% to 0.12% as March 31, 2013.

Holdings of U.S. Treasury and U.S. Government Agency debentures remained low for the period ended March 31, 2013 while spread products (all fixed income securities that trade at a spread over a comparable U.S. Treasury Security) consisting of investment grade corporate credit and securitized assets contributed to the Fund’s performance.

Corporate credit spreads widened during the second quarter of 2012 before tightening over the next three quarters ending March 31, 2013. The financial sector was the most volatile stemming from continued fears of the European sovereign debt crisis, as well as an unclear regulatory environment as Dodd Frank rules are still being written. Yet when the results of the Federal Reserve’s (Fed) second annual stress tests were released, the majority of the largest commercial banks were shown to have historically strong capital ratios, improving asset quality and healthy levels of liquidity. Credit spreads on financials tightened during the last three quarters. The Fund held no European based financial credits since 2011.

In securitized assets, U.S. Government Agency residential mortgage-backed securities performed well, benefiting primarily from the Fed’s quantitative easing 3 program and low interest rate volatility. Agency commercial mortgage-backed securities also had a great year due to better market liquidity and increasing market demand for high quality and more predictable cash flow products. Non-agency residential mortgage-backed securities (MBS) outperformed all other types of non-agency securitized assets in the fiscal year ended March 31, 2013, driven by limited supply and investors search for higher for yielding securities. Spreads on commercial mortgage-backed securities continued to tighten in the period. Spread tightening was driven partially by market demand for yield and partially driven by improving market fundamentals. Mezzanine tranches outperformed senior tranches given less call risk from refinancing or liquidation. High quality asset backed securities (auto and credit card backed securities) were stable performers. The spread remained tight range bound for most of the last 12 months.

How do you plan to position the Fund, based on market conditions?

We look to keep a short to neutral duration stance as risks remain higher for longer duration assets in a rising rate environment. We also feel that a neutral, laddered position is warranted given that shifts and twists in the curve may be short-lived and range-bound over the coming months.

We look to maintain limited exposure to U.S. Treasuries. As historically low rates linger, investors are only offered asymmetrical return potential; limited upside along with little coupon to insulate against the potential of rising rates. We will continue with our bias towards lower beta corporate credits such as non-cyclical industrials and companies with transparent and consistent earnings potential. Within securitized assets, we continue to overweight Agency and non-Agency mortgage credits, which aided performance in the quarter. Securitized assets could face a headwind should interest rates begin to rise. We continue to seek lower-premium, lower-coupon and floating rate MBS credits to provide protection from rising rates and refinancing risk.

 

35


ULTRA-SHORT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital 3-6 Month U.S. Treasury Bill Index. The Barclays Capital 3-6 Month U.S. Treasury Bill Index (“Index”) is the 3-6 month component of the Barclays Capital U.S. Treasury Bills Index, which includes U.S. Treasury bills with a remaining maturity from 1 up to (but not including) 12 months. It excludes zero coupon strips. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

              Average Annual Total Returns as of 3/31/13  
Ultra-Short Bond Fund            1 Year      3 Year        5 Year        10 Year  

I Shares

          1.39%        1.50%           2.21%           2.61%   
Barclays Capital 3-6 Month U.S. Treasury Bill Index           0.18%        0.19%           0.53%           1.91%   
                                              
Prospectus Expense Ratio1                                        Gross  
I Shares                                          0.34%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

36


U.S. GOVERNMENT SECURITIES FUND

 

 

Portfolio Managers

 

Ÿ   James F. Keegan
Ÿ   Adrien Webb, CFA
Ÿ   Perry Troisi
Ÿ   Michael Rieger
Ÿ   Seth Antiles, Ph.D

 

 

INVESTMENT CONCERNS

 

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the U.S. Government Securities Fund returned 2.19% (I Shares) versus 3.01% for the Barclays Capital U.S. Government Index.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Given the generosity of central banks globally, the fiscal year was marked by a broad “risk rally” that rewarded nearly all spread sectors, even higher-quality sectors like the government-related exposure found in many competitor funds. The Fund was positioned in Treasury exposure only and the Fund’s void in agency debentures detracted from performance as the sector produced positive excess returns over the fiscal year. Strategic yield curve positioning was not a part of performance this year.

How do you plan to position the Fund, based on market conditions?

Current valuations are hyper inflated over the intermediate and long term. Juxtaposing these valuations against the fragile and challenged macroeconomic environment that persists, we find comfort in remaining defensive and in a Treasury only portfolio until risk assets re-price to reflect this challenged fundamental backdrop. Aggressive central bank intervention has supported excessive risk taking while offering little support to the economic recovery. An overabundance of complacency exists globally and warrants caution.

 

37


U.S. GOVERNMENT SECURITIES FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Government Index (“Index”), which is composed of the Barclays Capital U.S. Treasury and U.S. Agency indices. The Index includes Treasuries (public obligations of the U.S. Treasury that have remaining maturities of more than one year) and U.S. agency debentures (publicly issued debt of U.S. Government agencies, quasi federal corporations, and corporate or foreign debt guaranteed by the U.S. Government). The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
U.S. Government Securities Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge          1.97%           4.68%           4.12%           3.80%   
     with sales charge*            –2.84%           2.98%           3.11%           3.29%   

C Shares

   without CDSC          1.72%           4.14%           3.51%           3.17%   
     with CDSC*            0.75%           4.14%           3.51%           3.17%   

I Shares

                2.19%           4.96%           4.41%           4.12%   
Barclays Capital U.S. Government Index            3.01%           5.04%           4.36%           4.53%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  1.00%   
C Shares                                                  1.67%   
I Shares                                                  0.79%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75% and Class C Shares reflect the maximum CDSC (contingent deferred sales charge) of 1.00% in year one only.
1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

 

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

38


U.S. GOVERNMENT SECURITIES ULTRA-SHORT BOND FUND

 

 

Portfolio Managers

 

Ÿ   H. Rick Nelson
Ÿ   Chad K. Stephens

 

 

INVESTMENT CONCERNS

 

Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

U.S. Government guarantees apply only to the underlying securities of the Fund’s portfolio and not the Fund’s shares.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Mortgage-backed investments involve risk of loss due to prepayments and, like any bond, due to default. Because of the sensitivity of mortgage-related securities to changes in interest rates, the Fund’s performance may be more volatile than if it did not hold these securities.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

The Fund outperformed its benchmark index, the Barclays Capital 3-6 Month U.S. Treasury Bill Index. The Fund generated a return of 1.10% for the fiscal year ended March 31, 2013 while the benchmark index return was 0.18% over the same period.

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

The Fund benefited from its allocation to U.S. Government Agency securitized assets as spreads on residential and multi-family securities tightened relative to U.S. Treasuries over the period. The allocation to adjustable-rate mortgages (ARMs) drove performance and total return. The Fund’s allocation to floating rate collateralized mortgage obligations (CMOs) contributed modestly to total return while reducing duration and hence interest rate risk in the Fund. Once more, the allocation to floating rate securities in the Fund reduced the weighted average dollar price thereby reducing prepayment risk inherent in securitized assets. The Fund also added exposure to Agency commercial mortgage-backed securities (CMBS) which benefited the Fund over the fiscal year as credit spreads tightened and the yield curve flattened.

How do you plan to position the Fund, based on market conditions?

We look to keep a relatively short duration stance as risks remain higher for longer duration assets in a rising rate environment. We also feel that a neutral, laddered position is warranted given that shifts and twists in the curve may be short-lived and range-bound over the coming months.

We also look to maintain limited exposure to U.S. Treasuries. As historically low rates linger, investors are subject to asymmetrical return potential; limited upside along with little coupon income to insulate against potential rising interest rates.

We will attempt to minimize the risks associated with rising longer-term rates by focusing on securities with shorter and well-defined principal payment periods. For example, we will look for CMOs that offer structural protections to investors. We will likely emphasize securities with floating rate coupons that offer investors more protection from rising interest rates or a steepening yield curve.

 

39


U.S. GOVERNMENT SECURITIES ULTRA-SHORT BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital 3-6 Month U.S. Treasury Bill Index (‘‘Index’’). The Index is the 3-6 month component of the Barclays Capital U.S. Treasury Bills Index, which includes U.S. Treasury bills with a remaining maturity from 1 up to (but not including) 12 months. It excludes zero coupon strips. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
U.S. Government Securities Ultra-Short Bond Fund            1 Year        3 Year        5 Year        10 Year  

I Shares

                1.10%           1.49%           2.47%           2.87%   
Barclays Capital 3-6 Month U.S. Treasury Bill Index             0.18%           0.19%           0.53%           1.91%   
                                                      
Prospectus Expense Ratio1                                               Gross  
I Shares                                                  0.39%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the March 31, 2013 expense ratios can be found in the financial highlights

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

40


VIRGINIA INTERMEDIATE MUNICIPAL BOND FUND

 

 

Portfolio Manager

 

Ÿ   Chris Carter, CFA

 

 

INVESTMENT CONCERNS

 

The geographical concentration of portfolio holdings in this Fund may involve increased risk.

Mutual fund investing involves risk, including possible loss of principal. Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return.

The Fund’s income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax.

The Fund is subject to the risk that principal value reacts in opposition to the movement of interest rates and that a rising interest rate environment increases the risk of loss of principal.

Debt securities will generally lose value if interest rates increase and vice versa. Interest rate risk is generally higher for investments with longer maturities or durations. Debt securities are subject to the risk that an issuer will fail to make timely payments of interest or principal or go bankrupt, reducing the Fund’s return. The lower the rating of a debt security, the higher its credit risk.

 

 

MANAGEMENT DISCUSSION OF FUND PERFORMANCE

 

How did the Fund perform against its benchmark for the fiscal year ended March 31, 2013?

For the fiscal year ended March 31, 2013, the Fund’s I Shares had a total return of 3.70% versus an average return of 3.53% for the Lipper Other States Intermediate Debt Objective and a 4.19% total return for the Barclays Capital U.S. Municipal Bond 1-15 Year Blend Index (the “Index”). The long end of the municipal yield curve, defined as 22-year and longer maturities, provided the greatest total return during the period, with total returns generally increasing out of the curve (according to Barclays Capital). Relative to the Index the Fund maintains a higher allocation to the cash equivalent, 5-year, 7-year, 20-year, and long bond sectors, and a lower allocation to all other maturity sectors, as of March 31, 2013. Additionally, relative to the Index the Fund maintains a higher allocation to securities rated AAA and non-rated bonds, an approximately neutral allocation to securities rated AA, and a lower allocation to securities in all other rating categories. Trading activity and portfolio events during the period resulted in exposure to the less than 1-year, 1-year, 5-year, 7-year, and long bond sectors being increased and exposure to the 3-year, 10-year, and 15-year sectors being reduced. The 5, 10, and 30-year generic AAA rated municipal bond yields declined 0.14%, 0.20% and 0.30%, respectively, over the fiscal year (according to Municipal Market Data Line).

What factors influenced the Fund’s performance for the fiscal year ended March 31, 2013?

Yield curve positioning contributed to the Fund’s outperformance for the period. The Fund maintained an overweight of bonds with final maturities of 17 years and longer. The 20-year sector outperformed the 5-year sector by 3.50% for the 12 months ended March 31, 2013 (according to Barclays Capital).

How do you plan to position the Fund, based on market conditions?

With municipal supply likely to remain manageable again this year, further investor flight-to-quality would likely increase the attractiveness of municipal bonds. Municipals as an asset class are relatively secure while offering among the highest after-tax returns over the past decade for top income earners. We continue to carefully watch the political environment in Washington, an impactful factor for all asset classes. The Fund’s present duration posture, yield curve positioning, and sector allocations seem appropriate given our forecasts for the economy and financial markets. We will continue to make tactical adjustments to the Fund, periodically, as a part of an active portfolio management process. All activity will occur within an investment grade construct and the average credit quality the Fund’s holdings should remain high relative to its peers.

 

41


VIRGINIA INTERMEDIATE MUNICIPAL BOND FUND

 

 

Growth of a $10,000 Investment (as of March 31, 2013)

 

LOGO     

This chart assumes an initial hypothetical investment of $10,000 made on 3/31/03. Total return is based on net change in the Net Asset Value (“NAV”) assuming reinvestment of distributions. Returns shown on this page include reinvestment of all dividends and other distributions.

 

The Fund’s performance is compared to the Barclays Capital U.S. Municipal Bond 1-15 Year Blend Index (“Index”) which is an index of tax-exempt bonds with maturities ranging between 1 and 15 years. The Index is unmanaged and does not reflect the deduction of fees, such as investment management and fund accounting fees associated with a mutual fund. Investors cannot invest directly in an index.

 

                   Average Annual Total Returns as of 3/31/13  
Virginia Intermediate Municipal Bond Fund           1 Year        3 Year        5 Year        10 Year  

A Shares

   without sales charge          3.45%           4.57%           4.80%           3.94%   
     with sales charge*            –1.46%           2.89%           3.79%           3.44%   

I Shares

                3.70%           4.76%           4.98%           4.09%   
Barclays Capital U.S. Municipal Bond 1-15 Year Blend Index            4.19%           5.26%           5.43%           4.59%   
                                                      
Prospectus Expense Ratio1                                               Gross  
A Shares                                                  0.74%   
I Shares                                                  0.58%   

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Total return figures include change in share price, reinvestment of dividends and capital gains and do not reflect taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For performance data current to the most recent month end, visit our website at www.ridgeworth.com.

 

* Class A Share performance reflects the maximum front-end sales charge of 4.75%.

 

1  This information is included in the most current prospectus available to current and prospective shareholders of the Fund. Additional information pertaining to the 3/31/13 expense ratios can be found in the financial highlights.

Investment Weightings (as of March 31, 2013)

as a percentage of investments

 

LOGO

 

 

42


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Core Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  

Asset-Backed Securities 1.1%

  

Home Equity 0.5%

    

Ameriquest Mortgage Securities, Inc., Series 2005-R5, Cl M1, 0.634%, 07/25/35(a)

    1,857,000         1,811,687   
    

 

 

 

Other 0.6%

    

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2, 5.216%, 01/25/42(b)

    2,272,395         2,550,168   
    

 

 

 

Total Asset-Backed Securities (Cost $4,020,134)

       4,361,855   
    

 

 

 
Collateralized Mortgage Obligations 7.7%   

Agency Collateralized Mortgage Obligations 5.4%

  

Federal Home Loan Mortgage Corporation

    

Series 3768, Cl CB, 3.500%, 12/15/25

    36,000         38,720   

Series 3774, Cl EW, 3.500%, 12/15/25

    39,000         42,045   

Series 3788, Cl YB, 3.500%, 01/15/26

    9,765,488         10,526,337   

Series 3800, Cl CB, 3.500%, 02/15/26

    42,000         45,262   

Series 3806, Cl L, 3.500%, 02/15/26

    399,000         427,683   

Series 3825, Cl CB, REMIC, 3.500%, 03/15/26

    23,000         24,744   

Series 3829, Cl BE, 3.500%, 03/15/26

    58,000         62,565   

Series 3877, Cl LM, 3.500%, 06/15/26

    26,000         28,156   

Series 3907, Cl MD, 3.500%, 08/15/26

    2,818,475         2,999,077   

Series 3950, Cl YB, 3.000%, 11/15/26

    626,000         659,071   

Series 3980, Cl LG, 3.000%, 01/15/27

    2,536,000         2,670,565   

Series 4065, Cl CL, 3.000%, 06/15/27

    838,000         886,569   

Series 4077, Cl B, 3.000%, 07/15/27

    731,000         774,312   
    

 

 

 
       19,185,106   
    

 

 

 

Federal National Mortgage Association

    

Series 2011-44, Cl EB,
3.000%, 05/25/26

    154,000         162,623   

Series 2012-100, Cl EW, REMIC, 3.000%, 09/25/27

    500,941         519,237   
     Shares or
Principal
Amount($)
     Value($)  

Agency Collateralized Mortgage Obligations—continued

 

Series 2012-17, Cl BC, 3.500%, 03/25/27

    1,379,000         1,485,317   
    

 

 

 
       2,167,177   
    

 

 

 
       21,352,283   
    

 

 

 
Commercial Mortgage Backed Securities 2.3%   

Extended Stay America Trust

    

Series 2013-ESH7, Cl A27, 2.958%, 12/05/31(b)

    800,000         809,105   
    

 

 

 

GS Mortgage Securities Corp. II

    

Series 2012-ALOH, Cl A, 3.551%, 04/10/34(b)

    1,746,000         1,835,945   

Series 2012-BWTR, Cl A, 2.954%, 11/05/34(b)

    1,069,000         1,064,923   

Series 2012-BWTR, Cl B, 3.255%, 11/05/34(b)

    1,195,000         1,196,762   
    

 

 

 
       4,097,630   
    

 

 

 

JPMorgan Chase Commercial Mortgage Securities Corp.

    

Series 2005-LDP3, Cl A4B, 4.996%, 08/15/42(a)

    2,295,000         2,500,251   
    

 

 

 

Merrill Lynch Mortgage Trust

    

Series 2005-LC1, Cl AM, 5.312%, 01/12/44(a)

    1,146,000         1,263,777   
    

 

 

 

Wachovia Bank Commercial Mortgage Trust

    

Series 2005-C21, Cl AM, 5.241%, 10/15/44(a)

    391,000         430,682   
    

 

 

 
       9,101,445   
    

 

 

 

Total Collateralized Mortgage Obligations
(Cost $29,198,892)

       30,453,728   
    

 

 

 

Corporate Bonds 22.2%

    

Aerospace/Defense 0.3%

    

United Technologies Corp., 3.100%, 06/01/22

    962,000         1,008,254   
    

 

 

 

Auto Manufacturers 0.3%

    

Daimler Finance N.A. LLC, 3.875%, 09/15/21(b)

    434,000         469,599   

Volkswagen International Finance, 2.375%, 03/22/17(b)

    690,000         715,303   
    

 

 

 
       1,184,902   
    

 

 

 

Banks 1.6%

    

Fifth Third Bank, 1.450%, 02/28/18

    1,285,000         1,284,692   

HSBC Bank PLC, 3.100%, 05/24/16(b)

    407,000         432,793   
 

 

See Notes to Financial Statements.

 

43


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Core Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Banks—continued

 

HSBC Bank PLC, 3.500%, 06/28/15(b)

    783,000         828,358   

KeyBank NA, 1.650%, 02/01/18

    831,000         838,523   

PNC Bank NA, 0.800%, 01/28/16

    2,017,000         2,016,772   

Wells Fargo & Co., 1.250%, 02/13/15, MTN

    1,099,000         1,111,667   
    

 

 

 
       6,512,805   
    

 

 

 

Beverages 0.5%

    

Anheuser-Busch InBev Worldwide, Inc., 2.500%, 07/15/22

    1,237,000         1,215,880   

SABMiller Holdings, Inc., 2.450%, 01/15/17(b)

    683,000         710,998   
    

 

 

 
       1,926,878   
    

 

 

 

Biotechnology 0.2%

    

Life Technologies Corp., 5.000%, 01/15/21

    286,000         309,427   

Life Technologies Corp., 6.000%, 03/01/20

    422,000         473,460   
    

 

 

 
       782,887   
    

 

 

 

Chemicals 0.3%

    

Dow Chemical Co. (The), 4.375%, 11/15/42

    513,000         492,006   

Praxair, Inc., 4.625%, 03/30/15

    773,000         835,052   
    

 

 

 
       1,327,058   
    

 

 

 

Commercial Services 0.8%

    

ERAC USA Finance LLC, 2.750%, 03/15/17(b)

    615,000         640,644   

ERAC USA Finance LLC, 5.250%, 10/01/20(b)

    952,000         1,105,272   

ERAC USA Finance LLC, 5.600%, 05/01/15(b)

    1,099,000         1,203,263   
    

 

 

 
       2,949,179   
    

 

 

 

Computers 0.5%

    

IBM Corp., 0.875%, 10/31/14

    1,459,000         1,470,652   

IBM Corp., 4.000%, 06/20/42

    629,000         631,131   
    

 

 

 
       2,101,783   
    

 

 

 

Diversified Financial Services 2.4%

  

American Express Credit Corp., 2.375%, 03/24/17, MTN

    604,000         631,587   

CME Group, Inc., 5.400%, 08/01/13

    573,000         582,158   

CME Group, Inc., 5.750%, 02/15/14

    384,000         400,630   
     Shares or
Principal
Amount($)
     Value($)  

Diversified Financial Services—continued

 

Ford Motor Credit Co. LLC, 5.000%, 05/15/18

    1,142,000         1,257,810   

General Electric Capital Corp., Series A, 7.125%(a)(c)

    500,000         581,533   

General Electric Capital Corp., Series B, 6.250%(a)(c)

    1,464,000         1,606,788   

John Deere Capital Corp., 1.250%, 12/02/14, MTN

    601,000         609,194   

Lazard Group LLC, 7.125%, 05/15/15

    719,000         795,354   

MassMutual Global Funding LLC, 2.000%, 04/05/17(b)

    576,000         590,437   

NASDAQ OMX Group, Inc. (The), 5.550%, 01/15/20

    287,000         309,487   

PACCAR Financial Corp., 1.550%, 09/29/14, MTN

    796,000         809,384   

Toyota Motor Credit Corp., 3.200%, 06/17/15, MTN

    338,000         356,872   

Woodside Finance Ltd., 4.600%, 05/10/21(b)

    908,000         1,011,168   
    

 

 

 
       9,542,402   
    

 

 

 

Electric 0.8%

    

Alabama Power Co., 5.800%, 11/15/13

    553,000         570,732   

Dominion Resources, Inc., 1.950%, 08/15/16

    315,000         324,839   

Duke Energy Carolinas LLC, 4.300%, 06/15/20

    310,000         356,259   

Exelon Generation Co. LLC, 6.200%, 10/01/17

    529,000         620,194   

Georgia Power Co., 6.000%, 11/01/13

    313,000         322,673   

MidAmerican Energy Holdings Co., 6.125%, 04/01/36

    422,000         524,510   

Southern California Edison Co., 5.750%, 03/15/14

    578,000         605,587   
    

 

 

 
       3,324,794   
    

 

 

 

Electronics 0.1%

    

Thermo Fisher Scientific, Inc., 2.250%, 08/15/16

    255,000         264,030   
    

 

 

 

Food 0.1%

    

Kroger Co. (The), 7.500%, 01/15/14

    427,000         449,824   
    

 

 

 

Healthcare-Products 0.2%

    

Becton Dickinson and Co., 3.250%, 11/12/20

    252,000         267,550   

Covidien International Finance SA, 6.000%, 10/15/17

    554,000         664,612   
    

 

 

 
       932,162   
    

 

 

 
 

 

See Notes to Financial Statements.

 

44


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Core Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Household Products/Wares 0.1%

  

Clorox Co. (The), 3.050%, 09/15/22

    401,000         404,570   
    

 

 

 

Insurance 1.0%

    

Berkshire Hathaway, Inc., 3.200%, 02/11/15

    965,000         1,012,765   

Berkshire Hathaway, Inc., 4.600%, 05/15/13

    738,000         741,936   

Fairfax Financial Holdings Ltd., 5.800%, 05/15/21(b)

    531,000         562,328   

Nationwide Financial Services, Inc., 5.375%, 03/25/21(b)

    1,396,000         1,540,122   
    

 

 

 
       3,857,151   
    

 

 

 

Internet 0.1%

    

eBay, Inc., 2.600%, 07/15/22

    461,000         460,651   
    

 

 

 

Machinery-Diversified 0.2%

    

Deere & Co., 3.900%, 06/09/42

    897,000         886,166   
    

 

 

 

Media 0.9%

    

Comcast Corp., 3.125%, 07/15/22

    651,000         666,083   

Comcast Corp., 4.650%, 07/15/42

    678,000         689,972   

Thomson Reuters Corp., 5.950%, 07/15/13

    178,000         180,778   

Time Warner Cable, Inc., 4.000%, 09/01/21

    1,147,000         1,223,855   

Time Warner Cable, Inc., 8.250%, 02/14/14

    519,000         552,091   

Time Warner, Inc., 6.200%, 03/15/40

    216,000         251,293   
    

 

 

 
       3,564,072   
    

 

 

 

Mining 1.3%

    

Barrick (PD) Australia Finance Property Ltd., 4.950%, 01/15/20

    310,000         344,047   

Barrick (PD) Australia Finance Property Ltd., 5.950%, 10/15/39

    376,000         408,332   

Barrick International Barbados Corp., 6.350%, 10/15/36(b)

    794,000         912,382   

BHP Billiton Finance USA Ltd., 1.125%, 11/21/14

    622,000         628,865   

Kinross Gold Corp., 5.125%, 09/01/21

    1,971,000         2,059,999   

Newmont Mining Corp., 6.250%, 10/01/39

    621,000         713,228   
    

 

 

 
       5,066,853   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Miscellaneous Manufacturer 0.9%

  

3M Co., 1.375%, 09/29/16

    418,000         428,087   

General Electric Co., 4.125%, 10/09/42

    462,000         463,176   

General Electric Co., 5.250%, 12/06/17

    390,000         456,841   

Illinois Tool Works, Inc., 6.250%, 04/01/19

    1,007,000         1,258,282   

Siemens Financieringsmaatschappij NV, 6.125%, 08/17/26(b)

    829,000         1,082,715   
    

 

 

 
       3,689,101   
    

 

 

 

Oil & Gas 0.7%

    

BP Capital Markets PLC, 2.248%, 11/01/16

    716,000         744,910   

Ensco PLC, 4.700%, 03/15/21

    572,000         638,645   

Shell International Finance BV, 3.625%, 08/21/42

    1,217,000         1,177,365   

Statoil ASA, 3.125%, 08/17/17

    265,000         287,312   
    

 

 

 
       2,848,232   
    

 

 

 

Oil & Gas Services 0.5%

    

Baker Hughes, Inc., 5.125%, 09/15/40

    453,000         526,593   

Schlumberger Investment SA, 3.300%, 09/14/21(b)

    693,000         739,933   

Weatherford International Ltd., 5.125%, 09/15/20

    413,000         445,456   

Weatherford International Ltd., 6.500%, 08/01/36

    365,000         392,035   
    

 

 

 
       2,104,017   
    

 

 

 

Pharmaceuticals 0.8%

    

Express Scripts Holding Co., 2.650%, 02/15/17

    641,000         671,421   

GlaxoSmithKline Capital, Inc., 5.650%, 05/15/18

    621,000         750,699   

Novartis Capital Corp., 3.700%, 09/21/42

    242,000         233,563   

Novartis Securities Investment Ltd., 5.125%, 02/10/19

    383,000         457,308   

Zoetis, Inc., 3.250%, 02/01/23(b)

    948,000         961,351   
    

 

 

 
       3,074,342   
    

 

 

 

Pipelines 2.0%

    

El Paso Natural Gas Co., 5.950%, 04/15/17

    621,000         720,692   

Energy Transfer Partners LP, 6.050%, 06/01/41

    363,000         393,037   
 

 

See Notes to Financial Statements.

 

45


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Core Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Pipelines—continued

 

Energy Transfer Partners LP, 6.625%, 10/15/36

    394,000         449,261   

Enterprise Products Operating LLC, 5.250%, 01/31/20

    1,189,000         1,392,217   

Enterprise Products Operating LLC, Series J, 5.750%, 03/01/35

    472,000         541,435   

Kinder Morgan Energy Partners LP, 5.000%, 08/15/42

    1,568,000         1,589,563   

Southern Natural Gas Co., 5.900%, 04/01/17(b)

    413,000         481,366   

TC Pipelines LP, 4.650%, 06/15/21

    600,000         644,115   

TransCanada PipeLines Ltd., 6.100%, 06/01/40

    490,000         618,493   

Transcontinental Gas Pipe Line Co. LLC, 6.050%, 06/15/18

    394,000         478,831   

Williams Partners LP, 4.125%, 11/15/20

    655,000         706,723   
    

 

 

 
       8,015,733   
    

 

 

 

Real Estate Investment Trust 1.2%

  

American Tower Corp., 3.500%, 01/31/23

    691,000         685,339   

Digital Realty Trust LP, 4.500%, 07/15/15

    1,248,000         1,326,023   

Digital Realty Trust LP, 5.875%, 02/01/20

    257,000         292,783   

Healthcare Realty Trust, Inc., 6.500%, 01/17/17

    2,010,000         2,313,369   
    

 

 

 
       4,617,514   
    

 

 

 

Retail 0.9%

    

AutoZone, Inc., 3.700%, 04/15/22

    556,000         573,749   

Macy’s Retail Holdings, Inc., 4.300%, 02/15/43

    787,000         721,363   

Walgreen Co., 4.875%, 08/01/13

    528,000         535,400   

Wesfarmers Ltd., 6.998%, 04/10/13(b)

    1,668,000         1,669,807   
    

 

 

 
       3,500,319   
    

 

 

 

Semiconductors 0.9%

    

Analog Devices, Inc., 3.000%, 04/15/16

    212,000         224,284   

Intel Corp., 1.950%, 10/01/16

    485,000         502,412   

Intel Corp., 4.250%, 12/15/42

    234,000         228,578   

Intel Corp., 4.800%, 10/01/41

    1,481,000         1,564,242   
     Shares or
Principal
Amount($)
     Value($)  

Semiconductors—continued

    

TSMC Global Ltd., 1.625%, 04/03/18(b)(d)

    857,000         855,749   
    

 

 

 
       3,375,265   
    

 

 

 
Software 0.4%   

Fiserv, Inc., 4.750%, 06/15/21

    493,000         534,417   

Oracle Corp., 5.750%, 04/15/18

    869,000         1,048,572   
    

 

 

 
       1,582,989   
    

 

 

 
Telecommunication Services 2.1%   

AT&T, Inc., 0.900%, 02/12/16

    609,000         608,587   

AT&T, Inc., 4.350%, 06/15/45(b)

    436,000         405,322   

AT&T, Inc., 5.550%, 08/15/41

    578,000         637,107   

CC Holdings GS V LLC, 3.849%, 04/15/23(b)

    1,692,000         1,704,628   

Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14

    508,000         527,992   

Cisco Systems, Inc., 5.500%, 02/22/16

    423,000         480,725   

Cisco Systems, Inc., 5.500%, 01/15/40

    737,000         879,451   

Juniper Networks, Inc., 3.100%, 03/15/16

    172,000         180,247   

Rogers Communications, Inc., 7.500%, 03/15/15

    579,000         652,359   

SBA Tower Trust, 2.933%, 12/15/42(b)

    1,200,000         1,253,172   

Verizon Communications, Inc., 5.250%, 04/15/13

    557,000         557,907   

Verizon Communications, Inc., 5.550%, 02/15/16

    471,000         531,350   
    

 

 

 
       8,418,847   
    

 

 

 
Transportation 0.1%     

United Parcel Service, Inc., 3.125%, 01/15/21

    363,000         387,455   
    

 

 

 

Total Corporate Bonds (Cost $83,071,213)

       88,160,235   
    

 

 

 

U.S. Government Agency Mortgages 26.2%

  

Federal Home Loan Mortgage Corporation

    

Pool #J18446, 3.000%, 03/01/27

    2,748,327         2,895,985   

Pool #J18800, 3.000%, 04/01/27

    1,231,378         1,297,535   

Pool #J19132, 3.000%, 05/01/27

    1,395,323         1,470,289   

Pool #J19310, 3.000%, 06/01/27

    411,154         431,175   
 

 

See Notes to Financial Statements.

 

46


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Core Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #G14517, 2.500%, 07/01/27

    1,555,891         1,618,568   

Pool #J19776, 3.000%, 07/01/27

    286,619         304,615   

Pool #J20257, 3.000%, 08/01/27

    2,231,854         2,350,368   

Pool #J20729, 2.500%, 10/01/27

    213,694         222,303   

Pool #J20738, 2.500%, 10/01/27

    3,431,830         3,560,694   

Pool #J20922, 2.500%, 10/01/27

    722,252         750,219   

Pool #J21113, 2.500%, 11/01/27

    1,175,946         1,221,480   

Pool #J21155, 2.500%, 11/01/27

    773,744         802,798   

Pool #J21295, 2.500%, 12/01/27

    789,625         820,200   

Pool #J22029, 3.000%, 01/01/28

    1,414,233         1,489,331   

Pool #J22137, 2.500%, 02/01/28

    834,784         866,130   

Pool #J22255, 2.500%, 02/01/28(d)

    385,636         401,171   

Pool #J22529, 2.500%, 02/01/28

    1,301,620         1,353,648   

Pool #J22728, 2.500%, 03/01/28(d)

    297,000         308,686   

Pool #J22831, 2.500%, 03/01/28

    1,651,000         1,716,993   

Pool #J22873, 2.500%, 03/01/28

    492,000         511,512   

Pool #D99439, 3.500%, 06/01/32

    313,721         336,063   

Pool #G30614, 3.500%, 12/01/32

    2,119,524         2,259,418   

Pool #A12413, 5.000%, 08/01/33

    322,187         349,761   

Pool #G05052, 5.000%, 10/01/33

    188,804         204,963   

Pool #G01797, 5.500%, 12/01/33

    6,803,097         7,436,086   

Pool #G01779, 5.000%, 04/01/35

    379,120         409,671   

Pool #G01837, 5.000%, 07/01/35

    2,633,388         2,842,304   

Pool #G02162, 5.500%, 05/01/36

    1,288,426         1,399,046   

Pool #G02252, 5.500%, 07/01/36

    546,046         592,928   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #Z40004, 6.000%, 08/01/36

    451,454         492,894   

Pool #G02424, 5.500%, 12/01/36

    629,438         683,479   

Pool #G04997, 5.000%, 01/01/37

    107,397         115,917   

Pool #G05254, 5.000%, 01/01/37

    1,113,574         1,201,918   

Pool #G03296, 6.000%, 09/01/37

    704,536         781,538   

Pool #G05326, 5.000%, 02/01/38

    533,084         575,375   

Pool #G03871, 5.500%, 02/01/38

    1,846,243         2,032,276   

Pool #G04337, 5.500%, 04/01/38

    126,786         137,315   

Pool #G06079, 6.000%, 07/01/39

    2,714,232         2,971,017   

Pool #A93996, 4.500%, 09/01/40

    536,424         574,203   

2.500%, TBA, 15 Year Maturity(d)

    6,758,000         6,996,642   
    

 

 

 
       56,786,514   
    

 

 

 

Federal National Mortgage Association

    

Pool #AM3173, 2.050%, 06/01/20(d)

    522,000         527,810   

Pool #AM2137, 1.950%, 08/01/20

    549,000         550,664   

Pool #AM2920, 1.980%, 11/01/20(d)

    649,000         649,610   

Pool #AM1003, 2.150%, 12/01/20

    607,274         612,453   

Pool #AM0418, 2.720%, 08/01/22

    889,155         923,152   

Pool #AJ1910, 2.500%, 05/01/27

    1,599,863         1,662,547   

Pool #AO3012, 2.500%, 05/01/27

    917,868         954,476   

Pool #AL3274, 3.000%, 05/01/27

    1,290,000         1,357,644   

Pool #AP4725, 3.000%, 08/01/27

    416,589         440,387   

Pool #AP1220, 2.500%, 09/01/27

    1,485,249         1,543,443   

Pool #AI9132, 3.000%, 09/01/27

    341,470         359,909   

Pool #AP7520, 3.000%, 09/01/27

    772,442         818,499   

Pool #AP1221, 2.500%, 10/01/27

    911,386         947,095   
 

 

See Notes to Financial Statements.

 

47


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Core Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AP9774, 2.500%, 10/01/27

    3,259,305         3,389,300   

Pool #AM1589, 2.420%, 12/01/27

    542,043         545,483   

Pool #AR1215, 3.000%, 01/01/28

    541,199         569,917   

Pool #AQ1273, 3.000%, 01/01/28

    221,603         233,362   

Pool #MA0949, 3.500%, 01/01/32

    1,523,826         1,627,256   

Pool #AB4168, 3.500%, 01/01/32(d)

    2,037,392         2,175,680   

Pool #MA0976, 3.500%, 02/01/32

    508,890         542,398   

Pool #AP9592, 3.500%, 10/01/32

    1,326,550         1,416,589   

Pool #AB7691, 3.500%, 01/01/33

    703,552         751,305   

Pool #AB8428, 3.500%, 02/01/33

    1,456,799         1,557,500   

Pool #725773, 5.500%, 09/01/34

    79,130         87,299   

Pool #735036, 5.500%, 12/01/34

    299,787         330,737   

Pool #827943, 5.000%, 05/01/35

    379,233         412,777   

Pool #735500, 5.500%, 05/01/35

    1,626,034         1,783,743   

Pool #357829, 6.000%, 06/01/35

    818,557         887,696   

Pool #888344, 5.000%, 10/01/35

    1,947,484         2,114,764   

Pool #888632, 5.000%, 04/01/36

    127,787         139,003   

Pool #878094, 6.000%, 04/01/36

    2,356,214         2,621,559   

Pool #190370, 6.000%, 06/01/36

    1,445,620         1,587,185   

Pool #AI7951, 4.500%, 08/01/36

    523,463         564,233   

Pool #889505, 6.000%, 08/01/36

    690,823         762,791   

Pool #AD0784, 6.000%, 05/01/37

    755,721         829,727   

Pool #995082, 5.500%, 08/01/37

    1,133,166         1,250,153   

Pool #889529, 6.000%, 03/01/38

    57,701         64,473   

Pool #995724, 6.000%, 04/01/39

    232,551         259,844   

Pool #AD0439, 6.000%, 07/01/39

    530,988         585,243   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

 

Pool #AD7136, 5.000%, 07/01/40

    1,142,393         1,254,800   

Pool #AB1343, 4.500%, 08/01/40

    1,091,766         1,191,693   

Pool #AL0005, 4.500%, 01/01/41

    559,601         603,710   

Pool #AB2694, 4.500%, 04/01/41

    495,339         541,659   

Pool #AL1627, 4.500%, 09/01/41

    1,746,404         1,916,806   

Pool #AQ2197, 4.500%, 11/01/42

    415,459         452,881   

3.000%, TBA, 15 Year Maturity(d)

    2,058,000         2,163,714   
    

 

 

 
       46,562,969   
    

 

 

 

Government National Mortgage Association

    

Pool #AA6933, 3.000%, 11/15/27

    287,668         306,077   
    

 

 

 

Total U.S. Government Agency Mortgages (Cost $102,211,507)

       103,655,560   
    

 

 

 

U.S. Treasury Obligations 40.0%

  

U.S. Treasury Bond 4.2%     

2.750%, 11/15/42

    17,854,000         16,548,426   
    

 

 

 
U.S. Treasury Notes 35.8%     

0.500%, 05/31/13(e)

    19,518,000         19,532,482   

0.375%, 11/15/15

    38,997,000         39,057,913   

1.750%, 05/31/16(e)

    9,411,000         9,810,968   

1.000%, 03/31/17

    18,743,000         19,069,541   

0.625%, 08/31/17

    31,000,000         30,968,504   

0.750%, 02/28/18

    2,457,000         2,457,575   

2.000%, 02/15/23

    21,026,000         21,292,105   
    

 

 

 
       142,189,088   
    

 

 

 

Total U.S. Treasury Obligations (Cost $157,618,740)

       158,737,514   
    

 

 

 

Preferred Stocks 0.9%

    
Banks 0.6%     

PNC Financial Services Group, Inc., Series P, 6.125%(a)(c)

    23,575         652,320   

US Bancorp, Series F, 6.500%(a)(c)

    22,025         657,667   

US Bancorp, Series G, 6.000%(a)(c)

    36,775         1,023,816   
    

 

 

 
       2,333,803   
    

 

 

 

Insurance 0.3%

    

Arch Capital Group Ltd., Series C, 6.750%(c)

    14,800         412,180   
 

 

See Notes to Financial Statements.

 

48


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Core Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Insurance—continued

    

Reinsurance Group of America, Inc., 6.200%(a)

    20,950         570,468   
    

 

 

 
       982,648   
    

 

 

 

Real Estate Investment Trust 0.0%(f)

  

Public Storage,
Series U, 5.625%(c)

    6,500         167,505   
    

 

 

 

Total Preferred Stocks (Cost $3,173,970)

       3,483,956   
    

 

 

 
Money Market Fund 7.8%     

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(g)

    30,909,791         30,909,791   
    

 

 

 

Total Money Market Fund (Cost $30,909,791)

       30,909,791   
    

 

 

 

Total Investments (Cost $410,204,247) — 105.9%

       419,762,639   

Liabilities in excess of other assets — (5.9)%

       (23,486,114
    

 

 

 

Net Assets — 100.0%

     $ 396,276,525   
    

 

 

 

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 6.9% of net assets as of March 31, 2013.

 

(c) Security is perpetual in nature and has no stated maturity.

 

(d) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(e) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(f) Less than 0.05% of Net Assets.

 

(g) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

MTN     Medium Term Note
REMIC     Real Estate Mortgage Investment Conduit
TBA     To Be Announced. Securities purchased on a forward commitment basis with an appropriate principal amount and no definitive maturity date. The actual principal and maturity date will be determined upon settlement date.
 

 

See Notes to Financial Statements.

 

49


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Corporate Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Corporate Bonds 93.6%     

Aerospace/Defense 1.0%

    

United Technologies Corp., 4.500%, 06/01/42

    648,000         690,682   
    

 

 

 

Auto Manufacturers 1.1%

    

Volkswagen International Finance, 2.375%, 03/22/17(a)

    791,000         820,008   
    

 

 

 

Banks 7.6%

    

Fifth Third Bank, 1.450%, 02/28/18

    1,149,000         1,148,724   

HSBC Bank PLC, 3.100%, 05/24/16(a)

    416,000         442,364   

HSBC Bank PLC, 3.500%, 06/28/15(a)

    585,000         618,888   

KeyBank NA, 1.650%, 02/01/18

    592,000         597,359   

PNC Bank NA, 0.800%, 01/28/16

    1,402,000         1,401,842   

Wells Fargo & Co., 1.250%, 02/13/15, MTN

    1,176,000         1,189,555   
    

 

 

 
       5,398,732   
    

 

 

 

Beverages 2.3%

    

Anheuser-Busch InBev Worldwide, Inc., 2.500%, 07/15/22

    654,000         642,834   

SABMiller Holdings, Inc.,
2.450%, 01/15/17(a)

    978,000         1,018,091   
    

 

 

 
       1,660,925   
    

 

 

 

Biotechnology 0.9%

    

Life Technologies Corp., 5.000%, 01/15/21

    361,000         390,570   

Life Technologies Corp., 6.000%, 03/01/20

    195,000         218,779   
    

 

 

 
       609,349   
    

 

 

 

Chemicals 0.6%

    

Dow Chemical Co. (The), 4.375%, 11/15/42

    479,000         459,398   
    

 

 

 

Commercial Services 1.7%

    

ERAC USA Finance LLC, 2.750%, 03/15/17(a)

    611,000         636,477   

ERAC USA Finance LLC, 5.250%, 10/01/20(a)

    518,000         601,398   
    

 

 

 
       1,237,875   
    

 

 

 

Cosmetics/Personal Care 0.4%

    

Colgate-Palmolive Co., 0.600%, 11/15/14, MTN

    319,000         320,048   
    

 

 

 

Diversified Financial Services 16.6%

  

American Express Credit Corp., 2.375%, 03/24/17, MTN

    691,000         722,561   
     Shares or
Principal
Amount($)
     Value($)  

Diversified Financial Services—continued

  

CME Group, Inc., 5.750%, 02/15/14

    1,176,000         1,226,929   

Ford Motor Credit Co. LLC, 5.000%, 05/15/18

    1,070,000         1,178,509   

General Electric Capital Corp., Series A, 7.125%(b)(c)

    600,000         697,839   

General Electric Capital Corp., Series B, 6.250%(b)(c)

    1,700,000         1,865,806   

John Deere Capital Corp., 1.250%, 12/02/14, MTN

    633,000         641,630   

Lazard Group LLC, 6.850%, 06/15/17

    810,000         931,291   

Lazard Group LLC, 7.125%, 05/15/15

    269,000         297,566   

MassMutual Global Funding LLC, 2.000%, 04/05/17(a)

    650,000         666,292   

NASDAQ OMX Group, Inc. (The), 5.550%, 01/15/20

    329,000         354,777   

PACCAR Financial Corp., 1.550%, 09/29/14, MTN

    938,000         953,771   

Toyota Motor Credit Corp., 3.200%, 06/17/15, MTN

    724,000         764,425   

Woodside Finance Ltd.,
4.600%, 05/10/21(a)(e)

    1,389,000         1,546,820   
    

 

 

 
       11,848,216   
    

 

 

 

Electric 1.3%

    

Alabama Power Co., 5.800%, 11/15/13

    81,000         83,597   

Dominion Resources, Inc., 1.950%, 08/15/16

    299,000         308,339   

Exelon Generation Co. LLC, 6.200%, 10/01/17

    429,000         502,955   
    

 

 

 
       894,891   
    

 

 

 

Electronics 0.4%

    

Thermo Fisher Scientific, Inc., 2.250%, 08/15/16

    279,000         288,880   
    

 

 

 

Healthcare-Products 1.2%

    

Covidien International Finance SA, 3.200%, 06/15/22

    852,000         888,668   
    

 

 

 

Healthcare-Services 0.6%

    

UnitedHealth Group, Inc., 1.400%, 10/15/17

    400,000         402,900   
    

 

 

 

Household Products/Wares 0.7%

    

Clorox Co. (The), 3.050%, 09/15/22

    480,000         484,273   
    

 

 

 

Insurance 3.2%

    

Allied World Assurance Co. Holdings Ltd., 5.500%, 11/15/20

    300,000         339,393   
 

 

See Notes to Financial Statements.

 

50


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Corporate Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Insurance—continued

    

Berkshire Hathaway, Inc., 3.200%, 02/11/15

    1,282,000         1,345,456   

Fairfax Financial Holdings Ltd., 5.800%, 05/15/21(a)

    532,000         563,387   
    

 

 

 
       2,248,236   
    

 

 

 

Internet 0.8%

    

eBay, Inc., 2.600%, 07/15/22

    571,000         570,567   
    

 

 

 

Machinery-Construction & Mining 0.3%

  

  

Caterpillar, Inc., 3.803%, 08/15/42

    203,000         192,420   
    

 

 

 

Machinery-Diversified 0.5%

    

Deere & Co., 3.900%, 06/09/42

    356,000         351,700   
    

 

 

 

Media 4.4%

    

Comcast Corp., 3.125%, 07/15/22

    558,000         570,928   

Comcast Corp., 4.650%, 07/15/42

    843,000         857,886   

Thomson Reuters Corp., 5.950%, 07/15/13

    24,000         24,374   

Time Warner Cable, Inc., 4.000%, 09/01/21

    612,000         653,007   

Time Warner, Inc., 6.200%, 03/15/40

    377,000         438,600   

Walt Disney Co. (The), 3.750%, 06/01/21, MTN

    532,000         586,631   
    

 

 

 
       3,131,426   
    

 

 

 

Mining 6.1%

    

Barrick (PD) Australia Finance Property Ltd., 5.950%, 10/15/39

    444,000         482,180   

Barrick International Barbados Corp., 6.350%, 10/15/36(a)

    753,000         865,269   

BHP Billiton Finance USA Ltd., 1.125%, 11/21/14

    661,000         668,295   

Kinross Gold Corp., 5.125%, 09/01/21

    1,272,000         1,329,436   

Newmont Mining Corp., 6.250%, 10/01/39

    910,000         1,045,150   
    

 

 

 
       4,390,330   
    

 

 

 

Miscellaneous Manufacturer 2.1%

  

  

3M Co., 1.375%, 09/29/16

    417,000         427,063   

General Electric Co., 4.125%, 10/09/42

    551,000         552,402   

General Electric Co., 5.250%, 12/06/17

    455,000         532,982   
    

 

 

 
       1,512,447   
    

 

 

 

Oil & Gas 3.6%

    

BP Capital Markets PLC, 2.248%, 11/01/16

    839,000         872,877   
     Shares or
Principal
Amount($)
     Value($)  

Oil & Gas—continued

    

Ensco PLC, 4.700%, 03/15/21

    748,000         835,151   

Shell International Finance BV, 2.375%, 08/21/22

    359,000         356,185   

Shell International Finance BV, 3.625%, 08/21/42

    503,000         486,618   
    

 

 

 
       2,550,831   
    

 

 

 

Oil & Gas Services 2.2%

    

Baker Hughes, Inc., 5.125%, 09/15/40

    642,000         746,298   

Weatherford International Ltd., 5.125%, 09/15/20

    273,000         294,454   

Weatherford International Ltd., 6.500%, 08/01/36

    499,000         535,960   
    

 

 

 
       1,576,712   
    

 

 

 

Pharmaceuticals 1.9%

    

Express Scripts Holding Co., 2.650%, 02/15/17

    659,000         690,275   

Zoetis, Inc., 3.250%, 02/01/23(a)

    677,000         686,534   
    

 

 

 
       1,376,809   
    

 

 

 

Pipelines 8.8%

    

El Paso Natural Gas Co., 5.950%, 04/15/17

    329,000         381,816   

El Paso Pipeline Partners Operating Co. LLC, 6.500%, 04/01/20

    355,000         430,151   

Enbridge Energy Partners LP, 5.500%, 09/15/40

    431,000         447,202   

Energy Transfer Partners LP, 6.050%, 06/01/41

    260,000         281,514   

Energy Transfer Partners LP, 6.625%, 10/15/36

    583,000         664,770   

Kinder Morgan Energy Partners LP, 5.000%, 08/15/42

    1,601,000         1,623,017   

Southern Natural Gas Co., 5.900%, 04/01/17(a)

    39,000         45,456   

TC Pipelines LP, 4.650%, 06/15/21

    712,000         764,350   

TransCanada PipeLines Ltd., 6.100%, 06/01/40

    805,000         1,016,095   

Transcontinental Gas Pipe Line Co. LLC, 6.050%, 06/15/18

    65,000         78,995   

Williams Partners LP, 4.125%, 11/15/20

    509,000         549,194   
    

 

 

 
       6,282,560   
    

 

 

 

Real Estate Investment Trust 3.9%

  

  

American Tower Corp., 3.500%, 01/31/23

    925,000         917,422   
 

 

See Notes to Financial Statements.

 

51


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Corporate Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Real Estate Investment Trust—continued

  

  

Digital Realty Trust LP, 5.875%, 02/01/20

    890,000         1,013,918   

Healthcare Realty Trust, Inc., 6.500%, 01/17/17

    735,000         845,934   
    

 

 

 
       2,777,274   
    

 

 

 

Retail 4.1%

    

AutoZone, Inc., 3.700%, 04/15/22

    522,000         538,664   

Macy’s Retail Holdings, Inc., 4.300%, 02/15/43

    678,000         621,454   

Wesfarmers Ltd., 1.874%, 03/20/18(a)

    658,000         663,659   

Wesfarmers Ltd., 6.998%, 04/10/13(a)

    1,102,000         1,103,193   
    

 

 

 
       2,926,970   
    

 

 

 

Semiconductors 4.4%

    

Analog Devices, Inc., 3.000%, 04/15/16

    237,000         250,732   

Intel Corp., 1.950%, 10/01/16

    497,000         514,843   

Intel Corp., 4.250%, 12/15/42

    1,243,000         1,214,201   

Intel Corp., 4.800%, 10/01/41

    402,000         424,595   

TSMC Global Ltd., 1.625%, 04/03/18(a)(d)

    731,000         729,933   
    

 

 

 
       3,134,304   
    

 

 

 

Telecommunication Services 10.9%

  

  

AT&T, Inc., 0.900%, 02/12/16

    1,309,000         1,308,112   

AT&T, Inc., 4.350%, 06/15/45(a)

    411,000         382,081   

AT&T, Inc., 5.550%, 08/15/41

    636,000         701,038   

CC Holdings GS V LLC, 3.849%, 04/15/23(a)

    1,186,000         1,194,851   

Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14

    784,000         814,854   

Cisco Systems, Inc., 5.500%, 02/22/16

    605,000         687,562   

Cisco Systems, Inc., 5.500%, 01/15/40

    846,000         1,009,519   

Juniper Networks, Inc., 4.600%, 03/15/21

    247,000         265,018   

Verizon Communications, Inc., 5.550%, 02/15/16

    1,155,000         1,302,991   

Verizon Communications, Inc., 5.850%, 09/15/35

    120,000         137,737   
    

 

 

 
       7,803,763   
    

 

 

 

Total Corporate Bonds
(Cost $64,159,791)

       66,831,194   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  
Preferred Stocks 4.6%     
Banks 2.7%     

PNC Financial Services Group, Inc., Series P, 6.125%(b)(c)

    19,150         529,880   

US Bancorp, Series F, 6.500%(b)(c)

    29,250         873,405   

US Bancorp, Series G, 6.000%(b)(c)

    17,850         496,944   
    

 

 

 
       1,900,229   
    

 

 

 
Insurance 1.6%     

Arch Capital Group Ltd., Series C, 6.750%(c)

    16,650         463,703   

Reinsurance Group of America, Inc., 6.200%(b)

    25,275         688,238   
    

 

 

 
       1,151,941   
    

 

 

 
Real Estate Investment Trust 0.3%   

Public Storage, Series U, 5.625%(c)

    7,875         202,939   
    

 

 

 

Total Preferred Stocks (Cost $2,923,001)

       3,255,109   
    

 

 

 
Money Market Fund 2.5%     

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(f)

    1,785,944         1,785,944   
    

 

 

 

Total Money Market Fund
(Cost $1,785,944)

       1,785,944   
    

 

 

 

Total Investments
(Cost $68,868,736) — 100.7%

       71,872,247   

Liabilities in excess of other
assets — (0.7)%

       (464,882
    

 

 

 

Net Assets — 100.0%

     $ 71,407,365   
    

 

 

 

 

(a) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 17.6% of net assets as of March 31, 2013.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(c) Security is perpetual in nature and has no stated maturity.

 

(d) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(e) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(f) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

MTN — Medium Term Note

 

 

See Notes to Financial Statements.

 

52


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Georgia Tax-Exempt Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Municipal Bonds 96.0%     

Alabama 0.4%

    

Birmingham, Series A, GO, 0.000%, 03/01/32(a)(b)

    640,000         591,283   
    

 

 

 

California 2.6%

    

California State, GO, 5.000%, 02/01/20

    1,910,000         2,310,088   

California State, GO, 5.000%, 02/01/38

    1,435,000         1,588,889   
    

 

 

 
       3,898,977   
    

 

 

 

Florida 1.4%

    

Miami-Dade County FL Aviation Revenue, Series A, AMT, RB, 5.000%, 10/01/21

    1,750,000         2,089,360   
    

 

 

 

Georgia 83.6%

    

Association County Commissioners of Georgia Leasing Program, Georgia Public Purpose Project, COP, 5.250%, 04/01/21, Pre-refunded 04/01/2014 @ 102, XLCA

    2,680,000         2,867,761   

Athens-Clarke County Unified Government Development Authority, RB, 5.250%, 07/01/27

    1,885,000         2,200,624   

Athens-Clarke County Unified Government Development Authority, RB, 5.250%, 07/01/29

    1,690,000         1,955,533   

Athens-Clarke County Unified Government Development Authority, Catholic Health East, RB, 6.250%, 11/15/32

    1,455,000         1,674,850   

Athens-Clarke County Unified Government Water & Sewerage, RB, 5.500%, 01/01/38(c)

    4,000,000         4,644,360   

Athens-Clarke County Unified Government Water & Sewerage, RB, 5.625%, 01/01/33(c)

    3,000,000         3,527,910   

Atlanta Airport Passenger Facility Charge, Series B, RB, 5.000%, 01/01/21

    2,000,000         2,388,640   

Atlanta Airport Project, Series B, RB, 5.000%, 01/01/42

    5,235,000         5,781,063   

Atlanta GA Department of Aviation, Series B, RB, 5.000%, 01/01/20

    1,500,000         1,813,665   
     Shares or
Principal
Amount($)
     Value($)  

Georgia—continued

    

Atlanta GA Department of Aviation, Series C, AMT, RB, 5.000%, 01/01/30

    1,500,000         1,664,805   

Atlanta GA Department of Aviation, Series C, AMT, RB, 5.000%, 01/01/31

    1,000,000         1,105,900   

Burke County Development Authority, Georgia Power Company, RB, 1.400%, 11/01/48(d)

    1,890,000         1,918,237   

Carroll County Water Authority, Water & Sewerage, RB, 5.250%, 07/01/22, Pre-refunded 07/01/2015 @ 100, AGM

    150,000         166,158   

Carroll County Water Authority, Water & Sewerage, RB, 5.250%, 07/01/22, AGM

    850,000         928,251   

Cherokee County Board of Education, GO, 5.000%, 08/01/33, State Aid Withholding

    2,000,000         2,314,860   

Cherokee County Georgia Resource Recovery Development Authority, Solid Waste Disposal, RB, 5.000%, 07/01/37, AMBAC/County Guaranteed, AMT

    1,000,000         1,062,580   

Clarke County Hospital Authority, Athens Regional Medical Center, RB, 5.000%, 01/01/32

    1,180,000         1,336,244   

Cobb County Hospital Authority, RB, 5.250%, 04/01/21, Pre-refunded 04/01/2013 @ 103, AMBAC

    1,000,000         1,025,420   

Cobb County Kennestone Hospital Authority, RB, 5.250%, 04/01/41

    1,000,000         1,108,040   

DeKalb Private Hospital Authority, Children’s Healthcare of Atlanta, Inc., RB, 5.000%, 11/15/29(c)

    6,300,000         7,084,098   

DeKalb Private Hospital Authority, Children’s Healthcare of Atlanta, Inc., RB, 5.250%, 11/15/39(c)

    3,000,000         3,351,990   

Douglas County, GO, 5.000%, 08/01/13

    5,565,000         5,656,377   
 

 

See Notes to Financial Statements.

 

53


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Georgia Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Georgia—continued

    

Douglasville-Douglas County Water & Sewer Authority, RB, 5.625%, 06/01/15, AMBAC

    475,000         492,784   

Downtown Smyrna Development Authority, RB, 5.250%, 02/01/28

    1,000,000         1,209,700   

Forsyth County, GO, 5.000%, 03/01/25(c)

    6,825,000         8,135,536   

Forsyth County School District, GO, 5.000%, 02/01/23, NATL-RE

    3,000,000         3,240,390   

Forsyth County Water & Sewerage Authority, RB, 5.000%, 04/01/31, County Guaranteed

    645,000         769,853   

Fulton County Development Authority, Georgia Tech Athletic Association, RB, 5.000%, 10/01/42(c)

    5,025,000         5,523,480   

Fulton County Development Authority, Molecular Science Building Project, RB, 5.250%, 05/01/22, NATL-RE(c)

    2,370,000         2,485,822   

Fulton County Development Authority, Robert Woodruff Arts Center, Inc., Series B, RB, 5.250%, 03/15/24

    1,300,000         1,465,581   

Georgia State, Series F, GO, 5.000%, 12/01/15

    1,030,000         1,156,371   

Georgia State, Series G, GO, 5.000%, 11/01/16

    1,500,000         1,737,645   

Georgia State, Series I, GO, 5.000%, 07/01/21

    2,625,000         3,322,069   

Georgia State Higher Education Facilities Authority, USG Real Estate Foundation I LLC, RB, 6.000%, 06/15/34

    1,065,000         1,237,903   

Glynn-Brunswick Memorial Hospital Authority, SouthEast Health System, Series A, RB, 5.500%, 08/01/28

    1,800,000         2,005,452   

Glynn-Brunswick Memorial Hospital Authority, SouthEast Health System, Series A, RB, 5.625%, 08/01/34

    2,000,000         2,232,160   

Greene County Development Authority, RB, 5.000%, 11/15/37

    555,000         605,461   
     Shares or
Principal
Amount($)
     Value($)  

Georgia—continued

    

Gwinnett County Development Authority, Public Schools Project, COP, 5.250%, 01/01/21, Pre-refunded 01/01/2014 @ 100, NATL-RE

    2,910,000         3,020,609   

Gwinnett County School District, GO, 5.000%, 02/01/20

    1,235,000         1,530,079   

Habersham County School District, GO, 5.000%, 04/01/20, State Aid Withholding

    1,520,000         1,861,331   

Henry County Water & Sewerage Authority, RB, 6.150%, 02/01/20, AMBAC

    2,100,000         2,661,981   

Houston County School District, Sales Tax, GO, 4.000%, 09/01/14, State Aid Withholding

    985,000         1,037,304   

Lincoln County School District, GO, 5.500%, 04/01/37, State Aid Withholding

    1,000,000         1,154,340   

Milledgeville & Baldwin County Development Authority, Georgia College & State University Foundation, RB, 6.000%, 09/01/33, Pre-refunded 09/01/2014 @ 101

    2,355,000         2,567,609   

Municipal Electric Authority of Georgia, RB, 5.000%, 01/01/30

    2,115,000         2,439,504   

Municipal Electric Authority of Georgia, Series A, RB, 5.000%, 01/01/21

    2,030,000         2,465,577   

Municipal Electric Authority of Georgia, Series B, RB, 4.000%, 01/01/16

    755,000         822,074   

Private Colleges & Universities Authority, Emory University, Series C, RB, 5.250%, 09/01/39

    3,500,000         4,040,120   

Richmond County Hospital Authority, University Health Services, Inc. Project, RB, 5.250%, 01/01/29

    2,250,000         2,468,362   

Thomasville Hospital Authority, John D. Archhold Memorial Hospital, RB, 5.375%, 11/01/40

    2,510,000         2,752,893   
 

 

See Notes to Financial Statements.

 

54


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Georgia Tax-Exempt Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Georgia—continued

    

Valdosta Board of Education, Sales Tax, GO, 3.000%, 02/01/15, State Aid Withholding

    1,180,000         1,234,681   

Valdosta Board of Education, Sales Tax, GO, 4.000%, 02/01/16, State Aid Withholding

    2,340,000         2,560,405   

Walton County School District, GO, 4.000%, 08/01/16, State Aid Withholding

    980,000         1,086,036   

Walton County School District, Series A, GO, 5.000%, 08/01/21, Pre-refunded 08/01/2015 @ 100, NATL-RE(c)

    2,575,000         2,847,074   
    

 

 

 
       127,747,552   
    

 

 

 

New Jersey 0.7%

    

New Jersey Economic Development Authority, RB, 5.000%, 03/01/28

    1,000,000         1,140,130   
    

 

 

 

North Carolina 0.7%

    

North Carolina State Capital Facilities Finance Agency, Educational Facilities, RB, 5.000%, 05/01/32

    970,000         1,042,702   
    

 

 

 

Puerto Rico 2.4%

    

Puerto Rico Commonwealth Highway & Transportation Authority Highway, Series CC, RB, 5.500%, 07/01/30

    2,560,000         2,559,770   

Puerto Rico Electric Power Authority, RB, 5.125%, 07/01/29, Pre-refunded 07/01/2013 @ 100

    1,100,000         1,113,926   

Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Series A, RB, 5.500%, 08/01/28, Pre-refunded 08/01/2019 @ 100

    20,000         25,387   
    

 

 

 
       3,699,083   
    

 

 

 

Texas 2.5%

    

Plano, GO, 5.000%, 09/01/22(b)

    3,000,000         3,772,500   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Virginia 1.7%

    

Virginia Small Business Financing Authority, AMT, RB, 5.000%, 07/01/34

    1,770,000         1,820,445   

Virginia Small Business Financing Authority, AMT, RB, 5.000%, 01/01/40

    735,000         753,279   
    

 

 

 
       2,573,724   
    

 

 

 

Total Municipal Bonds (Cost $137,942,679)

       146,555,311   
    

 

 

 

Money Market Fund 6.4%

    

Federated Tax-Free Obligations Fund, Institutional Shares, 0.01%(e)

    9,819,881         9,819,881   
    

 

 

 

Total Money Market Fund
(Cost $9,819,881)

       9,819,881   
    

 

 

 

Total Investments
(Cost $147,762,560) — 102.4%

       156,375,192   

Liabilities in excess of other
assets — (2.4)%

       (3,655,748
    

 

 

 

Net Assets — 100.0%

     $ 152,719,444   
    

 

 

 

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2013.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(d) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(e) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

AGM     Security guaranteed by Assured Guaranty Municipal Corporation
AMBAC     Security guaranteed by American Municipal Bond Assurance Corporation
AMT     Income subject to Alternative Minimum Tax
COP     Certificate of Participation
GO     General Obligation
NATL-RE     Reinsurance provided by National Public Finance Guarantee Corporation
RB     Revenue Bond
XLCA     Security guaranteed by XL Capital Assurance, Inc.
 

 

See Notes to Financial Statements.

 

55


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Grade Municipal Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Municipal Bonds 86.6%     

Alabama 6.3%

    

Birmingham, Series A, GO, 0.000%, 03/01/37(a)(b)

    2,000,000         1,798,520   

Birmingham Special Care Facilities Financing Authority Health Care Facilities, Children’s Hospital of Alabama, RB, 6.000%, 06/01/39, AGC

    2,000,000         2,349,360   
    

 

 

 
       4,147,880   
    

 

 

 

Alaska 3.7%

    

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, AGC(c)

    2,000,000         2,467,840   
    

 

 

 

California 16.2%

    

California State, GO, 5.000%, 02/01/43

    2,000,000         2,197,160   

California State, GO, 5.250%, 03/01/30

    1,225,000         1,433,715   

California State, GO,
6.500%, 04/01/33(c)

    2,000,000         2,477,740   

San Diego County Regional Airport Authority, Series B, AMT, RB, 5.000%, 07/01/43

    2,000,000         2,170,320   

Ventura County Public Financing Authority, Series A, 5.000%, 11/01/38

    2,250,000         2,482,380   
    

 

 

 
       10,761,315   
    

 

 

 

District of Columbia 3.7%

    

District of Columbia, Income Tax, Series A, RB, 5.500%, 12/01/30

    2,000,000         2,436,700   
    

 

 

 

Georgia 5.9%

    

Fulton County Development Authority, Georgia Tech Athletic Association, RB, 5.750%, 10/01/36

    1,250,000         1,445,888   

Georgia State, Series A, GO, 5.000%, 01/01/20

    2,000,000         2,480,180   
    

 

 

 
       3,926,068   
    

 

 

 

Idaho 4.4%

    

Idaho Health Facilities Authority, Series A, RB, 6.750%, 11/01/37

    2,500,000         2,928,675   
    

 

 

 

Illinois 5.3%

    

Chicago IL O’Hare International Airport Revenue, Series A, AMT, RB, 5.000%, 01/01/20

    2,000,000         2,352,580   
     Shares or
Principal
Amount($)
     Value($)  

Illinois—continued

    

University of Illinois, Auxiliary Facilities System, Series A, RB, 5.750%, 04/01/38

    1,000,000         1,126,160   
    

 

 

 
       3,478,740   
    

 

 

 

Indiana 2.3%

    

Indiana Finance Authority, RB, 5.000%, 07/01/40

    1,500,000         1,557,225   
    

 

 

 

Kansas 2.7%

    

Kansas State Development Finance Authority, Adventist Bolingbrook Hospital, RB, 5.750%, 11/15/38(c)

    1,500,000         1,760,520   
    

 

 

 

Maine 4.6%

    

Maine State Turnpike Authority, RB, 6.000%, 07/01/38(c)

    2,500,000         3,044,325   
    

 

 

 

Maryland 1.7%

    

Baltimore County, GO, 5.000%, 08/01/15

    1,000,000         1,107,970   
    

 

 

 

Nevada 2.5%

    

Las Vegas Valley Water District, Series B, GO, 5.000%, 06/01/37

    1,500,000         1,677,705   
    

 

 

 

New Jersey 3.5%

    

New Jersey State Transportation Trust Fund Authority, Transportation System, Series A, RB, 6.000%, 12/15/38

    1,955,000         2,323,322   
    

 

 

 

New York 1.8%

    

Erie County Industrial Development Agency, City School District Buffalo, Series A, RB, 5.750%, 05/01/29, BHAC

    1,000,000         1,176,100   
    

 

 

 

North Carolina 2.8%

    

North Carolina Municipal Power Agency No 1, Series B, RB, 5.000%, 01/01/23

    1,550,000         1,876,105   
    

 

 

 

Texas 13.8%

    

Austin, Series 2005, GO, 5.000%, 09/01/19, NATL-RE

    1,000,000         1,087,250   

Dallas Independent School District, GO, 6.375%, 02/15/34, PSF-GTD(c)

    4,000,000         4,916,000   
 

 

See Notes to Financial Statements.

 

56


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Grade Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Texas—continued

    

Harris County Health Facilities Development Authority, Memorial Hermann Healthcare System, Series B, RB, 7.125%, 12/01/31

    1,000,000         1,326,610   

Lower Colorado River Authority, Series A, RB, 5.000%, 05/15/24

    1,500,000         1,781,760   
    

 

 

 
       9,111,620   
    

 

 

 

Washington 5.4%

    

Central Puget Sound Regional Transit Authority, Series A, RB, 5.000%, 11/01/23, Pre-refunded 05/01/2015 @ 100, AMBAC

    1,500,000         1,646,220   

Seattle Washington Municipal Light & Power, RB, 5.750%, 04/01/29, BHAC(c)

    1,635,000         1,939,764   
    

 

 

 
       3,585,984   
    

 

 

 

Total Municipal Bonds
(Cost $52,273,477)

       57,368,094   
    

 

 

 

Money Market Fund 15.4%

    

Federated Tax-Free Obligations Fund, Institutional Shares, 0.01%(d)

    10,187,447         10,187,447   
    

 

 

 

Total Money Market Fund
(Cost $10,187,447)

       10,187,447   
    

 

 

 

Total Investments
(Cost $62,460,924) — 102.0%

       67,555,541   

Liabilities in excess of other
assets — (2.0)%

       (1,301,390
    

 

 

 

Net Assets — 100.0%

     $ 66,254,151   
    

 

 

 

 

(a) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(b) Step bond. The rate shown is the rate in effect as of March 31, 2013.

 

(c) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(d) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

AGC     Security guaranteed by Assured Guaranty Corporation
AMBAC     Security guaranteed by American Municipal Bond Assurance Corporation
AMT     Income subject to Alternative Minimum Tax
BHAC     Security guaranteed by Berkshire Hathaway Assurance Corporation
GO     General Obligation
NATL-RE     Reinsurance provided by National Public Finance Guarantee Corporation
PSF-GTD     Security guaranteed by Permanent School Fund Guarantee Program
RB     Revenue Bond
 

 

See Notes to Financial Statements.

 

57


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Income Fund

 

     Shares or
Principal
Amount($)
     Value($)  

Bank Loans 3.3%

    

Commercial Services 0.1%

    

ABC Supply, Bridge Term Loan, 03/28/14(a)(b)(c)

    330,000         330,000   

Walter Energy, Inc., Term Loan B, 5.750%, 04/02/18(a)(d)

    953,846         958,882   
    

 

 

 
       1,288,882   
    

 

 

 

Energy 0.4%

    

Aventine Renewable Energy Holdings, Inc., Term Loan B, 15.000%, 12/21/15(a)(d)(e)(f)

    5,227,518         3,920,638   
    

 

 

 

Food 0.2%

    

HJ Heinz Co., 2nd Lien Bridge Term Loan, 02/14/14(a)(b)(c)

    2,305,000         2,305,000   
    

 

 

 

Health Care 0.0%(g)

    

Community Health Systems, Inc., Extended Term Loan, 3.784%-3.787%, 01/25/17(a)(d)

    105,909         106,932   
    

 

 

 

Media 0.6%

    

Nielsen Holdings NV, Bridge Term Loan, 02/21/14(a)(b)(c)

    2,395,000         2,395,000   

Tribune Co., Exit Term Loan, 4.000%, 12/31/19(a)(d)

    2,937,638         2,961,139   
    

 

 

 
       5,356,139   
    

 

 

 

Mining 0.1%

    

FMG America Finance, Inc., Term Loan, 5.250%, 10/18/17(a)(d)

    447,750         452,827   
    

 

 

 

Oil & Gas 0.3%

    

Energy Transfer Equity, L.P., New Term Loan B, 3.750%, 03/24/17(a)(d)

    2,705,000         2,713,467   
    

 

 

 

Packaging & Containers 0.3%

    

Berry Plastics Holding Corp., Term Loan D, 3.500%, 02/04/20(a)(b)(d)

    2,840,000         2,832,247   
    

 

 

 

Retail 0.2%

    

Toys ‘R’ Us-Delaware, Inc., New Term Loan, 6.000%, 09/01/16(a)(d)

    1,850,256         1,810,161   
    

 

 

 

Semiconductors 0.4%

    

Freescale Semiconductor, Inc., Term Loan B4, 03/02/20(a)(b)(c)

    3,880,000         3,888,497   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services 0.7%

  

Alcatel-Lucent USA, Inc., USD Term Loan C, 01/31/19(a)(b)(c)

    1,291,763         1,310,274   

Cequel Communications LLC, Term Loan B, 4.000%, 02/14/19(a)(d)

    1,539,450         1,552,920   

Level 3 Financing, Inc., 2019 Term Loan B, 5.250%, 08/01/19(a)(d)

    965,000         977,304   

Virgin Media Investment Holdings Ltd., USD Term Loan B, 02/17/20(a)(b)(c)

    2,585,000         2,572,566   
    

 

 

 
       6,413,064   
    

 

 

 

Total Bank Loans (Cost $32,159,492)

       31,087,854   
    

 

 

 

Corporate Bonds 86.9%

    

Advertising 0.2%

    

MDC Partners, Inc.,
6.750%, 04/01/20(a)

    1,885,000         1,903,850   
    

 

 

 

Aerospace/Defense 1.0%

    

BE Aerospace, Inc., 5.250%, 04/01/22

    4,295,000         4,429,219   

GenCorp, Inc., 7.125%, 03/15/21(a)

    1,675,000         1,767,125   

Silver II Borrower/Silver II US Holdings LLC, 7.750%, 12/15/20(a)

    2,620,000         2,790,300   
    

 

 

 
       8,986,644   
    

 

 

 

Airlines 1.5%

    

Air Canada, Inc.,
9.250%, 08/01/15(a)(h)

    13,135,000         13,988,775   
    

 

 

 

Apparel 0.5%

    

Wolverine World Wide, Inc., 6.125%, 10/15/20(a)

    4,410,000         4,680,112   
    

 

 

 

Auto Manufacturers 0.0%(a)(g)

    

General Motors Co. Escrow,
7.200%(e)(f)(h)(i)(j)

    17,182,000           

General Motors Co. Escrow,
8.375%(e)(f)(h)(i)(j)

    36,800,000           
    

 

 

 
         
    

 

 

 

Auto Parts & Equipment 0.7%

    

Delphi Corp., 5.000%, 02/15/23

    3,275,000         3,463,312   

Lear Corp., 4.750%, 01/15/23(a)

    2,820,000         2,749,500   
    

 

 

 
       6,212,812   
    

 

 

 
 

 

See Notes to Financial Statements.

 

58


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Banks 1.8%

    

Ally Financial, Inc., 7.500%, 09/15/20(k)

    4,490,000         5,477,800   

Ally Financial, Inc., 8.000%, 11/01/31(k)

    7,345,000         9,291,425   

Provident Funding Associates LP/PFG Finance Corp., 10.125%, 02/15/19(a)

    1,645,000         1,793,050   
    

 

 

 
       16,562,275   
    

 

 

 

Building Materials 1.1%

    

Cemex Finance LLC,
9.375%, 10/12/22(a)

    2,825,000         3,284,063   

Gibraltar Industries, Inc., 6.250%, 02/01/21(a)

    1,270,000         1,346,200   

Masco Corp., 5.950%, 03/15/22

    2,640,000         2,969,559   

USG Corp., 8.375%, 10/15/18(a)

    855,000         944,775   

USG Corp., 9.750%, 01/15/18

    1,135,000         1,344,975   
    

 

 

 
       9,889,572   
    

 

 

 

Chemicals 0.9%

    

Ineos Finance PLC,
7.500%, 05/01/20(a)

    3,985,000         4,338,669   

Kinove German Bondco GmbH,
9.625%, 06/15/18(a)

    988,000         1,099,150   

Nufarm Australia Ltd.,
6.375%, 10/15/19(a)

    1,630,000         1,670,750   

PetroLogistics LP/PetroLogistics Finance Corp., 6.250%, 04/01/20(a)

    1,600,000         1,610,000   
    

 

 

 
       8,718,569   
    

 

 

 

Coal 0.4%

    

Peabody Energy Corp., 6.250%, 11/15/21(h)

    3,005,000         3,125,200   

Walter Energy, Inc.,
8.500%, 04/15/21(a)

    1,075,000         1,101,875   
    

 

 

 
       4,227,075   
    

 

 

 

Commercial Services 4.9%

    

Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 9.625%, 03/15/18(h)

    660,000         744,982   

Cenveo Corp., 11.500%, 05/15/17(h)

    5,815,000         5,044,512   

FTI Consulting, Inc.,
6.000%, 11/15/22(a)

    2,045,000         2,162,588   

Harland Clarke Holdings Corp., 9.750%, 08/01/18(a)(h)

    12,520,000         13,271,200   

Lender Processing Services, Inc., 5.750%, 04/15/23

    2,835,000         2,955,488   
     Shares or
Principal
Amount($)
     Value($)  

Commercial Services—continued

  

Live Nation Entertainment, Inc., 7.000%, 09/01/20(a)

    1,245,000         1,338,375   

Monitronics International, Inc., 9.125%, 04/01/20

    3,755,000         3,970,912   

Prospect Medical Holdings, Inc., 8.375%, 05/01/19(a)

    4,577,000         4,874,505   

ServiceMaster Co., 8.000%, 02/15/20(h)

    3,545,000         3,802,012   

United Rentals North America, Inc., 7.375%, 05/15/20

    4,315,000         4,789,650   

United Rentals North America, Inc., 7.625%, 04/15/22

    2,135,000         2,385,863   
    

 

 

 
       45,340,087   
    

 

 

 

Computers 1.3%

    

Brocade Communications Systems, Inc., 4.625%, 01/15/23(a)

    815,000         788,513   

j2 Global, Inc., 8.000%, 08/01/20

    4,020,000         4,281,300   

NCR Corp., 4.625%, 02/15/21(a)

    4,505,000         4,482,475   

NCR Corp., 5.000%, 07/15/22(a)(h)

    2,285,000         2,290,712   
    

 

 

 
       11,843,000   
    

 

 

 

Diversified Financial Services 4.8%

  

  

Aircastle Ltd.,6.750%, 04/15/17

    3,090,000         3,399,000   

Aircastle Ltd.,7.625%, 04/15/20

    3,055,000         3,536,162   

CNG Holdings, Inc., 9.375%, 05/15/20(a)

    2,740,000         2,688,625   

Community Choice Financial, Inc., 10.750%, 05/01/19

    2,585,000         2,449,288   

Icahn Enterprises Finance Corp., 8.000%, 01/15/18

    4,630,000         4,954,100   

International Lease Finance Corp., 6.250%, 05/15/19

    4,335,000         4,746,825   

International Lease Finance Corp., 8.250%, 12/15/20

    1,405,000         1,721,125   

International Lease Finance Corp., 8.750%, 03/15/17

    7,430,000         8,739,537   

Jefferies Finance LLC/JFIN Co-Issuer Corp., 7.375%, 04/01/20(a)

    2,610,000         2,655,675   

Nationstar Mortgage LLC/Nationstar Capital Corp., 7.875%, 10/01/20(a)

    1,910,000         2,110,550   
 

 

See Notes to Financial Statements.

 

59


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Diversified Financial Services—continued

  

  

Nationstar Mortgage LLC/Nationstar Capital Corp., 9.625%, 05/01/19(a)

    1,645,000         1,875,300   

Oxford Finance LLC/Oxford Finance Co-Issuer, Inc., 7.250%, 01/15/18(a)

    1,655,000         1,717,063   

Serta Simmons Holdings LLC, 8.125%, 10/01/20(a)

    3,420,000         3,552,525   
    

 

 

 
       44,145,775   
    

 

 

 

Electric 1.9%

    

Calpine Corp., 7.250%, 10/15/17(a)

    1,895,000         2,008,700   

Energy Future Intermediate Holding Co. LLC/EFIH Finance, Inc., 10.000%, 12/01/20(a)

    2,145,000         2,413,125   

GenOn Energy, Inc.,
9.500%, 10/15/18(h)

    3,630,000         4,274,325   

GenOn Energy, Inc., 9.875%, 10/15/20

    810,000         927,450   

Midwest Generation LLC, Series B, 8.560%, 01/02/16(e)(h)

    5,312,265         5,206,020   

NRG Energy, Inc., 7.625%, 05/15/19

    2,375,000         2,565,000   
    

 

 

 
       17,394,620   
    

 

 

 

Electrical Components & Equipment 0.4%

  

  

General Cable Corp.,
5.750%, 10/01/22(a)

    1,830,000         1,866,600   

GrafTech International Ltd., 6.375%, 11/15/20(a)

    1,450,000         1,500,750   
    

 

 

 
       3,367,350   
    

 

 

 

Electronics 1.2%

    

313 Group, Inc., 6.375%, 12/01/19(a)(h)

    7,670,000         7,612,475   

313 Group, Inc., 8.750%, 12/01/20(a)(h)

    3,445,000         3,483,756   
    

 

 

 
       11,096,231   
    

 

 

 

Energy-Alternate Sources 0.2%

  

First Wind Capital LLC, 10.250%, 06/01/18(a)

    1,600,000         1,700,000   
    

 

 

 

Engineering & Construction 0.5%

  

Aguila 3 SA, 7.875%, 01/31/18(a)

    4,190,000         4,493,775   
    

 

 

 

Entertainment 2.0%

    

Carmike Cinemas, Inc., 7.375%, 05/15/19

    1,310,000         1,437,725   
     Shares or
Principal
Amount($)
     Value($)  

Entertainment—continued

    

Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp., 5.250%, 03/15/21(a)

    1,935,000         1,922,906   

Cinemark USA, Inc.,
5.125%, 12/15/22(a)

    795,000         798,975   

Diamond Resorts Corp., 12.000%, 08/15/18(k)

    11,325,000         12,514,125   

Pinnacle Entertainment, Inc., 7.750%, 04/01/22

    1,170,000         1,256,287   

Pinnacle Entertainment, Inc., 8.750%, 05/15/20(h)

    750,000         824,063   
    

 

 

 
       18,754,081   
    

 

 

 

Environmental Control 0.9%

    

Clean Harbors, Inc.,
5.125%, 06/01/21(a)

    1,100,000         1,126,125   

Clean Harbors, Inc., 5.250%, 08/01/20

    2,155,000         2,225,037   

Heckmann Corp., 9.875%, 04/15/18(a)

    1,435,000         1,522,894   

Heckmann Corp., 9.875%, 04/15/18(h)

    3,720,000         3,975,750   
    

 

 

 
       8,849,806   
    

 

 

 

Food 3.1%

    

Hawk Acquisition Sub, Inc., 4.250%, 10/15/20(a)(b)

    25,080,000         25,111,350   

Post Holdings, Inc., 7.375%, 02/15/22

    3,445,000         3,767,969   
    

 

 

 
       28,879,319   
    

 

 

 

Forest Products & Paper 0.6%

    

Verso Paper Holdings LLC/Verso Paper, Inc., 11.750%, 01/15/19(h)

    6,625,000         5,366,250   
    

 

 

 

Gas 0.4%

    

Sabine Pass LNG LP, 6.500%, 11/01/20(a)

    2,230,000         2,347,075   

Sabine Pass LNG LP, 7.500%, 11/30/16

    1,565,000         1,729,325   
    

 

 

 
       4,076,400   
    

 

 

 

Hand/Machine Tools 0.3%

    

Milacron LLC/Mcron Finance Corp., 7.750%, 02/15/21(a)

    2,619,000         2,707,391   
    

 

 

 

Healthcare-Products 1.6%

    

Biomet, Inc., 6.500%, 08/01/20(a)

    4,750,000         5,040,937   

Kinetic Concepts, Inc./KCI USA, Inc., 10.500%, 11/01/18

    2,205,000         2,386,913   
 

 

See Notes to Financial Statements.

 

60


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Healthcare-Products—continued

  

Physio-Control International, Inc., 9.875%, 01/15/19(a)

    6,450,000         7,272,375   
    

 

 

 
       14,700,225   
    

 

 

 

Healthcare-Services 2.1%

    

CDRT Holding Corp., PIK, 9.250%, 10/01/17(a)

    4,530,000         4,699,875   

CHS/Community Health Systems, Inc., 5.125%, 08/15/18

    4,275,000         4,478,063   

HCA, Inc., 6.250%, 02/15/21

    5,145,000         5,485,856   

MedImpact Holdings, Inc., 10.500%, 02/01/18(a)

    4,375,000         4,878,125   
    

 

 

 
       19,541,919   
    

 

 

 

Holding Companies-Diversified 0.9%

  

MMI International Ltd., 8.000%, 03/01/17(a)

    3,440,000         3,526,000   

WaveDivision Escrow LLC/WaveDivision Escrow Corp., 8.125%, 09/01/20(a)

    4,285,000         4,477,825   
    

 

 

 
       8,003,825   
    

 

 

 

Home Builders 0.1%

    

KB Home, 7.500%, 09/15/22

    850,000         954,125   
    

 

 

 

Household Products/Wares 0.7%

  

Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Luxembourg I SA, 7.875%, 08/15/19(h)

    4,875,000         5,374,687   

Spectrum Brands Escrow Corp., 6.375%, 11/15/20(a)

    710,000         762,363   

Spectrum Brands Escrow Corp., 6.625%, 11/15/22(a)(h)

    710,000         770,350   
    

 

 

 
       6,907,400   
    

 

 

 

Housewares 0.7%

    

Libbey Glass, Inc., 6.875%, 05/15/20

    6,125,000         6,607,344   
    

 

 

 

Insurance 1.0%

    

Assured Guaranty Municipal Holdings, Inc., 6.400%, 12/15/66(a)(d)

    3,060,000         2,769,300   

Assured Guaranty US Holdings, Inc., Series A, 6.400%, 12/15/66(d)(h)

    2,370,000         2,215,950   

Genworth Financial, Inc., 6.150%, 11/15/66(d)

    1,975,000         1,807,125   

MBIA, Inc., 6.625%, 10/01/28(h)

    2,650,000         2,093,500   
    

 

 

 
       8,885,875   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Internet 1.2%

    

CyrusOne LP/CyrusOne Finance Corp., 6.375%, 11/15/22(a)

    790,000         827,525   

Equinix, Inc., 4.875%, 04/01/20

    2,240,000         2,256,800   

Equinix, Inc., 5.375%, 04/01/23

    1,105,000         1,118,813   

Mood Media Corp.,
9.250%, 10/15/20(a)

    2,355,000         2,572,837   

Zayo Escrow Corp.,
8.125%, 01/01/20(h)

    4,175,000         4,676,000   
    

 

 

 
       11,451,975   
    

 

 

 

Iron/Steel 0.2%

    

JMC Steel Group,
8.250%, 03/15/18(a)(h)

    1,610,000         1,706,600   
    

 

 

 

Leisure Time 0.3%

    

ClubCorp Club Operations, Inc., 10.000%, 12/01/18

    640,000         723,200   

Viking Cruises Ltd., 8.500%, 10/15/22(a)

    1,505,000         1,655,500   
    

 

 

 
       2,378,700   
    

 

 

 

Lodging 1.5%

    

Caesars Entertainment Operating Co., Inc., 8.500%, 02/15/20

    3,930,000         3,880,875   

Chester Downs & Marina LLC, 9.250%, 02/01/20(a)(h)

    595,000         568,225   

Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.500%, 07/01/19(a)

    4,490,000         4,983,900   

MGM Resorts International, 6.750%, 10/01/20(a)

    1,640,000         1,738,400   

MGM Resorts International, 7.625%, 01/15/17

    2,325,000         2,580,750   
    

 

 

 
       13,752,150   
    

 

 

 

Machinery-Diversified 0.1%

    

Manitowoc Co., Inc. (The), 8.500%, 11/01/20

    790,000         892,700   
    

 

 

 

Media 5.7%

    

Block Communications, Inc., 7.250%, 02/01/20(a)

    2,690,000         2,925,375   

CCO Holdings LLC/Cap Corp., 5.125%, 02/15/23

    2,870,000         2,783,900   

CCO Holdings LLC/Cap Corp., 5.250%, 09/30/22

    5,400,000         5,305,500   

CCO Holdings LLC/Cap Corp., 7.375%, 06/01/20

    585,000         648,619   
 

 

See Notes to Financial Statements.

 

61


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Media—continued

    

Cequel Communications Holdings I LLC, 6.375%, 09/15/20(a)

    1,200,000         1,245,000   

Clear Channel Worldwide Holdings, Inc., Series A, 6.500%, 11/15/22(a)

    2,560,000         2,668,800   

Clear Channel Worldwide Holdings, Inc., Series B, 6.500%, 11/15/22(a)

    6,930,000         7,311,150   

Clear Channel Worldwide Holdings, Inc., Series B, 7.625%, 03/15/20

    1,895,000         1,977,906   

DISH DBS Corp., 5.875%, 07/15/22

    6,365,000         6,675,294   

Entravision Communications Corp., 8.750%, 08/01/17

    5,667,000         6,148,695   

LIN Television Corp., 6.375%, 01/15/21(a)

    1,195,000         1,272,675   

McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 9.750%, 04/01/21(a)

    1,675,000         1,658,250   

Mediacom Broadband LLC/Mediacom Broadband Corp., 6.375%, 04/01/23(a)

    3,675,000         3,812,812   

Sirius XM Radio, Inc., 5.250%, 08/15/22(a)(h)

    2,005,000         2,050,113   

Univision Communications, Inc., 6.750%, 09/15/22(a)

    4,340,000         4,687,200   

Videotron Ltd., 5.000%, 07/15/22

    1,985,000         2,014,775   
    

 

 

 
       53,186,064   
    

 

 

 

Mining 3.2%

    

FMG Resources August 2006 Pty Ltd., 8.250%, 11/01/19(a)(h)

    7,880,000         8,500,550   

HudBay Minerals, Inc., 9.500%, 10/01/20

    2,850,000         3,113,625   

Inmet Mining Corp.,
7.500%, 06/01/21(a)

    6,525,000         7,063,312   

Inmet Mining Corp.,
8.750%, 06/01/20(a)(k)

    7,945,000         8,818,950   

New Gold, Inc., 6.250%, 11/15/22(a)

    1,265,000         1,325,088   

Vulcan Materials Co., 7.500%, 06/15/21

    940,000         1,106,850   
    

 

 

 
       29,928,375   
    

 

 

 

Miscellaneous Manufacturer 1.1%

  

Bombardier, Inc., 4.250%, 01/15/16(a)

    2,915,000         3,024,313   
     Shares or
Principal
Amount($)
     Value($)  

Miscellaneous Manufacturer—continued

  

Bombardier, Inc., 5.750%, 03/15/22(a)

    1,065,000         1,092,956   

Bombardier, Inc., 6.125%, 01/15/23(a)

    5,830,000         6,048,625   
    

 

 

 
       10,165,894   
    

 

 

 

Oil & Gas 10.4%

    

Atlas Energy Holdings Operating Co. LLC/Atlas Resource Finance Corp., 7.750%, 01/15/21(a)

    8,250,000         7,920,000   

Chesapeake Energy Corp., 6.625%, 08/15/20(h)

    2,935,000         3,206,488   

CITGO Petroleum Corp., 11.500%, 07/01/17(a)

    4,155,000         4,762,669   

EP Energy LLC/Everest Acquisition Finance, Inc., 6.875%, 05/01/19

    1,775,000         1,943,625   

EP Energy LLC/Everest Acquisition Finance, Inc., 7.750%, 09/01/22(h)

    790,000         872,950   

Halcon Resources Corp., 8.875%, 05/15/21(a)(h)

    6,355,000         6,847,512   

Hercules Offshore, Inc., 7.125%, 04/01/17(a)

    4,954,000         5,337,935   

Linn Energy LLC/Finance Corp., 8.625%, 04/15/20

    855,000         942,638   

MEG Energy Corp.,
6.375%, 01/30/23(a)

    2,880,000         2,995,200   

Oasis Petroleum, Inc., 6.875%, 01/15/23

    2,470,000         2,717,000   

Offshore Group Investment Ltd., 7.125%, 04/01/23(a)

    3,175,000         3,246,437   

Offshore Group Investment Ltd., 7.500%, 11/01/19(a)(h)

    3,925,000         4,160,500   

Plains Exploration & Production Co., 6.125%, 06/15/19

    4,395,000         4,812,525   

Plains Exploration & Production Co., 6.625%, 05/01/21

    3,330,000         3,663,000   

Plains Exploration & Production Co., 6.875%, 02/15/23

    12,160,000         13,771,200   

Range Resources Corp., 5.000%, 03/15/23(a)

    3,270,000         3,343,575   

SandRidge Energy, Inc., 7.500%, 03/15/21

    6,430,000         6,687,200   

Seadrill Ltd., 5.625%, 09/15/17(a)

    2,000,000         2,020,000   

United Refining Co.,
10.500%, 02/28/18(h)(k)

    13,204,000         14,920,520   
 

 

See Notes to Financial Statements.

 

62


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Oil & Gas—continued

    

WPX Energy, Inc., 6.000%, 01/15/22

    2,000,000         2,095,000   
    

 

 

 
       96,265,974   
    

 

 

 

Oil & Gas Services 1.5%

    

American Petroleum Tankers LLC, 10.250%, 05/01/15

    453,000         467,723   

Cie Generale de Geophysique-Veritas, 6.500%, 06/01/21

    5,100,000         5,355,000   

Exterran Partners LP/EXLP Finance Corp., 6.000%, 04/01/21(a)

    1,865,000         1,858,006   

Hornbeck Offshore Services, Inc., 5.000%, 03/01/21(a)

    1,960,000         1,945,300   

Oil States International, Inc., 5.125%, 01/15/23(a)

    2,375,000         2,375,000   

Oil States International, Inc., 6.500%, 06/01/19

    2,140,000         2,289,800   
    

 

 

 
       14,290,829   
    

 

 

 

Packaging & Containers 0.8%

    

Crown Americas LLC/Crown Americas Capital Corp. IV, 4.500%, 01/15/23(a)

    4,140,000         4,015,800   

Sealed Air Corp., 5.250%, 04/01/23(a)

    2,235,000         2,243,381   

Sealed Air Corp., 6.500%, 12/01/20(a)

    970,000         1,062,150   
    

 

 

 
       7,321,331   
    

 

 

 

Pharmaceuticals 1.1%

    

ConvaTec Healthcare, 10.500%, 12/15/18(a)(k)

    8,920,000         9,923,500   

Valeant Pharmaceuticals International, 6.500%, 07/15/16(a)

    275,000         287,031   
    

 

 

 
       10,210,531   
    

 

 

 

Pipelines 1.3%

    

Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp., 5.875%, 08/01/23(a)

    1,955,000         1,945,225   

Eagle Rock Energy Partners LP/Eagle Rock Energy Finance Corp., 8.375%, 06/01/19

    2,405,000         2,537,275   

Sabine Pass Liquefaction LLC, 5.625%, 02/01/21(a)(h)

    7,165,000         7,433,687   
    

 

 

 
       11,916,187   
    

 

 

 

Real Estate 0.7%

    

CBRE Services, Inc., 5.000%, 03/15/23

    6,540,000         6,613,575   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Real Estate Investment Trust 0.3%

  

  

Felcor Lodging LP, 5.625%, 03/01/23(a)(h)

    2,395,000         2,439,906   

Host Hotels & Resorts LP, 3.750%, 10/15/23

    760,000         762,972   
    

 

 

 
       3,202,878   
    

 

 

 

Retail 3.4%

    

Bon-Ton Department Stores, Inc. (The),
10.625%, 07/15/17(h)

    2,650,000         2,653,313   

Claire’s Stores, Inc.,
9.000%, 03/15/19(a)(h)

    1,410,000         1,593,300   

Coinstar, Inc., 6.000%, 03/15/19(a)

    1,540,000         1,574,650   

Dufry Finance SCA, 5.500%, 10/15/20(a)

    825,000         855,966   

Landry’s Holdings II, Inc., 10.250%, 01/01/18(a)(h)

    2,720,000         2,849,200   

Landry’s, Inc., 9.375%, 05/01/20(a)

    4,205,000         4,530,887   

Limited Brands, Inc., 5.625%, 02/15/22

    1,800,000         1,908,000   

Party City Holdings, Inc., 8.875%, 08/01/20(a)(h)

    2,905,000         3,188,238   

Sally Holdings LLC/Sally Capital, Inc., 5.750%, 06/01/22

    5,675,000         5,923,281   

Sears Holdings Corp., 6.625%, 10/15/18(h)

    4,200,000         4,089,750   

Toys R Us, Inc., 7.375%, 10/15/18

    1,400,000         1,235,500   

Toys R Us, Inc., 10.375%, 08/15/17

    1,175,000         1,191,156   
    

 

 

 
       31,593,241   
    

 

 

 

Semiconductors 0.4%

    

Advanced Micro Devices, Inc., 7.500%, 08/15/22(a)

    805,000         730,538   

Advanced Micro Devices, Inc., 7.750%, 08/01/20

    825,000         759,000   

NXP BV/NXP Funding LLC, 5.750%, 03/15/23(a)

    2,325,000         2,371,500   
    

 

 

 
       3,861,038   
    

 

 

 

Shipbuilding 0.4%

    

Huntington Ingalls Industries, Inc., 6.875%, 03/15/18

    1,425,000         1,549,688   

Huntington Ingalls Industries, Inc., 7.125%, 03/15/21

    2,300,000         2,501,250   
    

 

 

 
       4,050,938   
    

 

 

 

Software 0.6%

    

First Data Corp., 6.750%, 11/01/20(a)

    5,065,000         5,280,262   
    

 

 

 
 

 

See Notes to Financial Statements.

 

63


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Storage/Warehousing 0.7%

    

Niska Gas Storage US LLC/Niska Gas Storage Canada ULC, 8.875%, 03/15/18

    5,995,000         6,249,787   
    

 

 

 

Telecommunication Services 12.9%

  

CenturyLink, Inc., 5.625%, 04/01/20

    4,160,000         4,253,600   

Frontier Communications Corp., 7.625%, 04/15/24(b)

    295,000         303,481   

Intelsat Jackson Holdings SA, 7.250%, 10/15/20

    4,280,000         4,702,650   

Intelsat Luxembourg SA, 7.750%, 06/01/21(a)(b)

    4,000,000         4,070,000   

Level 3 Financing, Inc., 8.125%, 07/01/19(h)

    5,985,000         6,583,500   

Level 3 Financing, Inc., 8.625%, 07/15/20

    3,855,000         4,298,325   

Lynx I Corp., 5.375%, 04/15/21(a)

    1,925,000         2,002,000   

Lynx II Corp., 6.375%, 04/15/23(a)

    3,625,000         3,797,187   

MetroPCS Wireless, Inc., 6.250%, 04/01/21(a)

    3,740,000         3,805,450   

MetroPCS Wireless, Inc., 6.625%, 04/01/23(a)

    4,250,000         4,335,000   

NII Capital Corp., 7.625%, 04/01/21

    3,995,000         2,876,400   

NII International Telecom S.A.R.L., 11.375%, 08/15/19(a)

    3,705,000         3,871,725   

Nortel Networks Ltd., 10.750%, 07/15/16(e)(h)(k)

    8,580,000         9,802,650   

Sable International Finance Ltd., 8.750%, 02/01/20(a)(h)

    1,770,000         2,000,100   

Satmex Escrow SA de CV, 9.500%, 05/15/17(h)(k)

    8,770,000         9,296,200   

SBA Telecommunications, Inc., 5.750%, 07/15/20(a)

    4,415,000         4,591,600   

Sprint Capital Corp., 6.875%, 11/15/28

    3,545,000         3,624,763   

Sprint Capital Corp.,
6.900%, 05/01/19(k)

    10,364,000         11,374,490   

Sprint Nextel Corp.,
7.000%, 08/15/20(k)

    4,175,000         4,592,500   

Trilogy International Partners LLC, 10.250%, 08/15/16(a)(h)

    7,855,000         7,697,900   

Tw telecom holdings, Inc., 5.375%, 10/01/22

    3,985,000         4,154,362   

UPCB Finance V Ltd., 7.250%, 11/15/21(a)

    3,300,000         3,646,500   
     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

US West Capital Funding, Inc., 6.875%, 07/15/28

    1,490,000         1,436,256   

ViaSat, Inc., 6.875%, 06/15/20

    3,945,000         4,231,012   

West Corp., 7.875%, 01/15/19

    755,000         804,075   

Wind Acquisition Finance Holdings, PIK, 12.250%, 07/15/17(a)(h)

    3,055,951         3,099,159   

Wind Acquisition Finance SA, 7.250%, 02/15/18(a)

    1,775,000         1,848,219   

Windstream Corp.,

6.375%, 08/01/23(a)(h)

    2,865,000         2,843,513   
    

 

 

 
       119,942,617   
    

 

 

 

Transportation 1.1%

    

Bristow Group, Inc., 6.250%, 10/15/22

    2,005,000         2,165,400   

CHC Helicopter SA, 9.250%, 10/15/20

    5,675,000         6,033,234   

Martin Midstream Partners LP/Martin Midstream Finance Corp., 7.250%, 02/15/21(a)

    1,920,000         1,939,200   
    

 

 

 
       10,137,834   
    

 

 

 

Trucking & Leasing 0.3%

    

Aviation Capital Group Corp., 4.625%, 01/31/18(a)

    3,005,000         3,100,195   
    

 

 

 

Total Corporate Bonds (Cost $761,699,001)

       806,284,157   
    

 

 

 
Convertible Corporate Bond 0.2%      

Auto Parts & Equipment 0.2%

    

Meritor, Inc., 4.625%, 03/01/26(d)(h)

    2,145,000         2,080,650   
    

 

 

 

Total Convertible Corporate Bond
(Cost $1,867,074)

       2,080,650   
    

 

 

 
Preferred Stock 0.4%     

Diversified Financial Services 0.4%

  

  

GMAC Capital Trust I, Series 2,

8.125%(d)

    121,110         3,294,192   
    

 

 

 

Total Preferred Stock
(Cost $3,027,750)

       3,294,192   
    

 

 

 
Convertible Preferred Stock 0.8%      

Auto Manufacturers 0.8%

    

General Motors Co., Series B, 4.750%, 12/01/13(h)

    166,615         7,154,448   
    

 

 

 

Total Convertible Preferred Stock
(Cost $5,993,656)

       7,154,448   
    

 

 

 
 

 

See Notes to Financial Statements.

 

64


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

High Income Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  
Common Stock 0.1%     

Energy-Alternate Sources 0.1%

  

  

Aventine Renewable Energy Holdings, Inc.*(e)(f)

    52,974         794,610   
    

 

 

 

Total Common Stock
(Cost $6,347,507)

       794,610   
    

 

 

 

Short-Term Investment 7.6%

    

RidgeWorth Funds Securities Lending Joint Account(l)

    70,317,458         70,317,458   
    

 

 

 

Total Short-Term Investment (Cost $70,317,458)

       70,317,458   
    

 

 

 

Money Market Fund 7.2%

    

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(m)

    67,039,336         67,039,336   
    

 

 

 

Total Money Market Fund
(Cost $67,039,336)

       67,039,336   
    

 

 

 

Total Investments
(Cost $948,451,274) — 106.5%

   

     988,052,705   

Liabilities in excess of other assets — (6.5)%

       (60,220,913
    

 

 

 

Net Assets — 100.0%

     $ 927,831,792   
    

 

 

 

 

* Non-income producing security.

 

(a) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 47.9% of net assets as of March 31, 2013.
(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) The security does not have a stated settlement date and will receive a rate upon settling with the custodian.

 

(d) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(e) Security is in default.

 

(f) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees.

 

(g) Less than 0.05% of Net Assets.

 

(h) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $68,530,873.

 

(i) Valued at fair value using procedures approved by the Board of Trustees. (See Note 2(a))

 

(j) Security is perpetual in nature and has no stated maturity.

 

(k) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(l) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(k)).

 

(m) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

PIK     Payment in-kind
ULC     Unlimited Liability Company
 

 

See Notes to Financial Statements.

 

65


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Intermediate Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Collateralized Mortgage Obligation 0.2%   

Commercial Mortgage Backed Securities 0.2%

  

LB-UBS Commercial Mortgage Trust

    

Series 2005-C7, Cl A3, 5.455%, 11/15/30(a)

    1,753,000         1,814,795   
    

 

 

 

Total Collateralized Mortgage Obligation
(Cost $1,754,938)

       1,814,795   
    

 

 

 
Corporate Bonds 26.8%     

Aerospace/Defense 0.4%

    

United Technologies Corp., 3.100%, 06/01/22

    3,330,000         3,490,110   
    

 

 

 

Auto Manufacturers 0.4%

    

Daimler Finance N.A. LLC, 3.875%, 09/15/21(b)

    1,640,000         1,774,521   

Volkswagen International Finance, 2.375%, 03/22/17(b)

    2,175,000         2,254,762   
    

 

 

 
       4,029,283   
    

 

 

 

Banks 1.9%

    

Fifth Third Bank, 1.450%, 02/28/18

    4,337,000         4,335,959   

HSBC Bank PLC, 3.100%, 05/24/16(b)

    1,271,000         1,351,549   

HSBC Bank PLC, 3.500%, 06/28/15(b)

    1,729,000         1,829,159   

KeyBank NA, 1.650%, 02/01/18

    2,136,000         2,155,337   

Northern Trust Corp., 4.625%, 05/01/14

    667,000         697,527   

PNC Bank NA, 0.800%, 01/28/16

    5,178,000         5,177,415   

Wells Fargo & Co., 1.250%, 02/13/15, MTN

    2,770,000         2,801,927   
    

 

 

 
       18,348,873   
    

 

 

 

Beverages 0.6%

    

Anheuser-Busch InBev Worldwide, Inc., 2.500%, 07/15/22

    3,158,000         3,104,080   

SABMiller Holdings, Inc., 2.450%, 01/15/17(b)

    2,696,000         2,806,517   
    

 

 

 
       5,910,597   
    

 

 

 

Biotechnology 0.2%

    

Life Technologies Corp., 5.000%, 01/15/21

    848,000         917,462   

Life Technologies Corp., 6.000%, 03/01/20

    1,242,000         1,393,452   
    

 

 

 
       2,310,914   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Chemicals 0.4%

    

Dow Chemical Co. (The), 3.000%, 11/15/22

    1,597,000         1,569,535   

Praxair, Inc., 4.625%, 03/30/15

    1,768,000         1,909,924   
    

 

 

 
       3,479,459   
    

 

 

 

Commercial Services 0.6%

    

ERAC USA Finance LLC, 2.750%, 03/15/17(b)

    1,853,000         1,930,265   

ERAC USA Finance LLC, 5.250%, 10/01/20(b)

    1,603,000         1,861,083   

ERAC USA Finance LLC, 5.600%, 05/01/15(b)

    1,401,000         1,533,914   
    

 

 

 
       5,325,262   
    

 

 

 

Computers 0.9%

    

IBM Corp., 0.875%, 10/31/14

    4,501,000         4,536,945   

IBM Corp., 1.250%, 02/06/17

    3,710,000         3,746,963   
    

 

 

 
       8,283,908   
    

 

 

 

Diversified Financial Services 3.6%

  

American Express Credit Corp., 2.375%, 03/24/17, MTN

    1,622,000         1,696,083   

CME Group, Inc., 5.400%, 08/01/13

    2,135,000         2,169,124   

CME Group, Inc., 5.750%, 02/15/14

    2,074,000         2,163,819   

Ford Motor Credit Co. LLC, 5.000%, 05/15/18

    3,506,000         3,861,543   

General Electric Capital Corp., Series A, 7.125%,(a)(c)

    1,305,000         1,517,800   

General Electric Capital Corp., Series B, 6.250%,(a)(c)

    4,900,000         5,377,912   

John Deere Capital Corp., 1.250%, 12/02/14, MTN

    1,686,000         1,708,987   

Lazard Group LLC, 6.850%, 06/15/17

    405,000         465,645   

Lazard Group LLC, 7.125%, 05/15/15

    1,673,000         1,850,664   

MassMutual Global Funding LLC, 2.000%, 04/05/17(b)

    1,766,000         1,810,263   

NASDAQ OMX Group, Inc. (The), 5.550%, 01/15/20

    822,000         886,404   

PACCAR Financial Corp., 1.550%, 09/29/14, MTN

    2,384,000         2,424,085   

Toyota Motor Credit Corp., 3.200%, 06/17/15, MTN

    1,019,000         1,075,896   

Woodside Finance Ltd., 4.600%, 05/10/21(b)

    3,318,000         3,694,994   

Woodside Finance Ltd., 8.125%, 03/01/14(b)

    3,118,000         3,317,580   
    

 

 

 
       34,020,799   
    

 

 

 
 

 

See Notes to Financial Statements.

 

66


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Intermediate Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Electric 1.3%

    

Alabama Power Co., 5.800%, 11/15/13

    1,994,000         2,057,939   

Dominion Resources, Inc., 1.950%, 08/15/16

    948,000         977,611   

Duke Energy Carolinas LLC, 4.300%, 06/15/20

    628,000         721,713   

Exelon Generation Co. LLC, 6.200%, 10/01/17

    1,465,000         1,717,550   

Georgia Power Co., 6.000%, 11/01/13

    1,442,000         1,486,563   

MidAmerican Energy Holdings Co., 5.000%, 02/15/14

    2,682,000         2,782,881   

Southern California Edison Co., 5.750%, 03/15/14

    2,151,000         2,253,663   
    

 

 

 
       11,997,920   
    

 

 

 

Electronics 0.1%

    

Thermo Fisher Scientific, Inc., 2.250%, 08/15/16

    882,000         913,233   
    

 

 

 

Food 0.1%

    

Kroger Co. (The), 7.500%, 01/15/14

    1,302,000         1,371,596   
    

 

 

 

Healthcare-Products 0.2%

    

Becton Dickinson and Co., 3.250%, 11/12/20

    734,000         779,293   

Covidien International Finance SA, 6.000%, 10/15/17

    1,322,000         1,585,950   
    

 

 

 
       2,365,243   
    

 

 

 

Household Products/Wares 0.1%

  

Clorox Co. (The), 3.050%, 09/15/22

    1,108,000         1,117,863   
    

 

 

 

Insurance 1.1%

    

Berkshire Hathaway, Inc., 3.200%, 02/11/15

    2,757,000         2,893,466   

Berkshire Hathaway, Inc., 4.600%, 05/15/13

    2,330,000         2,342,426   

Fairfax Financial Holdings Ltd., 5.800%, 05/15/21(b)

    1,594,000         1,688,043   

Nationwide Financial Services, Inc., 5.375%, 03/25/21(b)

    3,260,000         3,596,559   
    

 

 

 
       10,520,494   
    

 

 

 

Internet 0.1%

    

eBay, Inc., 2.600%, 07/15/22

    1,344,000         1,342,981   
    

 

 

 

Machinery-Diversified 0.4%

    

Deere & Co., 2.600%, 06/08/22

    3,708,000         3,734,838   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Media 1.2%

    

Comcast Corp., 3.125%, 07/15/22

    1,724,000         1,763,943   

Comcast Corp., 4.950%, 06/15/16

    1,004,000         1,130,473   

NBCUniversal Media LLC, 4.375%, 04/01/21

    2,250,000         2,531,590   

Thomson Reuters Corp., 5.950%, 07/15/13

    526,000         534,208   

Time Warner Cable, Inc., 4.000%, 09/01/21

    2,570,000         2,742,203   

Time Warner Cable, Inc., 8.250%, 02/14/14

    2,112,000         2,246,659   

Time Warner, Inc., 4.875%, 03/15/20

    439,000         502,452   
    

 

 

 
       11,451,528   
    

 

 

 

Mining 1.3%

    

Barrick (PD) Australia Finance Property Ltd., 4.950%, 01/15/20

    1,974,000         2,190,802   

Barrick International Barbados Corp., 5.750%, 10/15/16(b)

    1,447,000         1,643,189   

BHP Billiton Finance USA Ltd., 1.125%, 11/21/14

    1,755,000         1,774,370   

Kinross Gold Corp., 5.125%, 09/01/21(d)

    3,576,000         3,737,471   

Newmont Mining Corp., 3.500%, 03/15/22

    2,557,000         2,574,428   
    

 

 

 
       11,920,260   
    

 

 

 

Miscellaneous Manufacturer 1.1%

  

3M Co., 1.375%, 09/29/16

    976,000         999,552   

General Electric Co., 2.700%, 10/09/22

    2,569,000         2,569,208   

General Electric Co., 5.250%, 12/06/17

    944,000         1,105,791   

Illinois Tool Works, Inc., 6.250%, 04/01/19

    2,483,000         3,102,595   

Siemens Financieringsmaatschappij NV, 5.750%, 10/17/16(b)

    1,976,000         2,282,320   
    

 

 

 
       10,059,466   
    

 

 

 

Oil & Gas 0.5%

    

BP Capital Markets PLC, 2.248%, 11/01/16

    2,066,000         2,149,421   

Ensco PLC, 4.700%, 03/15/21

    1,989,000         2,220,743   

Statoil ASA, 3.125%, 08/17/17

    627,000         679,790   
    

 

 

 
       5,049,954   
    

 

 

 
 

 

See Notes to Financial Statements.

 

67


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Intermediate Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Oil & Gas Services 0.5%

    

Schlumberger Investment SA, 3.300%, 09/14/21(b)

    1,645,000         1,756,406   

Weatherford International Ltd., 4.950%, 10/15/13

    1,160,000         1,183,516   

Weatherford International Ltd., 5.125%, 09/15/20

    1,362,000         1,469,035   
    

 

 

 
       4,408,957   
    

 

 

 

Pharmaceuticals 0.8%

    

Express Scripts Holding Co., 2.650%, 02/15/17

    1,507,000         1,578,519   

GlaxoSmithKline Capital, Inc., 5.650%, 05/15/18

    1,549,000         1,872,517   

Novartis Securities Investment Ltd., 5.125%, 02/10/19

    1,105,000         1,319,389   

Zoetis, Inc., 3.250%, 02/01/23(b)

    2,450,000         2,484,503   
    

 

 

 
       7,254,928   
    

 

 

 

Pipelines 2.8%

    

El Paso Natural Gas Co., 5.950%, 04/15/17

    597,000         692,839   

El Paso Pipeline Partners Operating Co. LLC, 6.500%, 04/01/20

    942,000         1,141,415   

Energy Transfer Partners LP, 4.650%, 06/01/21

    1,263,000         1,374,731   

Energy Transfer Partners LP, 6.700%, 07/01/18

    2,867,000         3,459,190   

Enterprise Products Operating LLC, 5.250%, 01/31/20

    4,158,000         4,868,661   

Enterprise Products Operating LLC, Series G, 5.600%, 10/15/14

    2,202,000         2,360,434   

Kinder Morgan Energy Partners LP, 3.450%, 02/15/23

    5,616,000         5,676,136   

Southern Natural Gas Co., 5.900%, 04/01/17(b)

    374,000         435,910   

TC Pipelines LP, 4.650%, 06/15/21

    1,724,000         1,850,757   

TransCanada PipeLines Ltd., 3.800%, 10/01/20

    1,504,000         1,648,828   

Transcontinental Gas Pipe Line Co. LLC, 6.050%, 06/15/18

    1,074,000         1,305,239   

Williams Partners LP, 4.125%, 11/15/20

    2,024,000         2,183,829   
    

 

 

 
       26,997,969   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Real Estate Investment Trust 1.2%

  

American Tower Corp., 3.500%, 01/31/23

    2,057,000         2,040,149   

Digital Realty Trust LP, 4.500%, 07/15/15

    3,350,000         3,559,435   

Digital Realty Trust LP, 5.875%, 02/01/20

    758,000         863,539   

Healthcare Realty Trust, Inc., 6.500%, 01/17/17

    4,150,000         4,776,360   
    

 

 

 
       11,239,483   
    

 

 

 

Retail 1.5%

    

AutoZone, Inc., 3.700%, 04/15/22

    1,593,000         1,643,853   

Macy’s Retail Holdings, Inc., 2.875%, 02/15/23

    7,523,000         7,280,752   

Walgreen Co., 4.875%, 08/01/13

    2,042,000         2,070,619   

Wesfarmers Ltd., 6.998%, 04/10/13(b)

    3,403,000         3,406,685   
    

 

 

 
       14,401,909   
    

 

 

 

Semiconductors 1.3%

    

Analog Devices, Inc., 3.000%, 04/15/16

    692,000         732,096   

Intel Corp., 1.950%, 10/01/16

    1,136,000         1,176,784   

Intel Corp., 2.700%, 12/15/22

    7,455,000         7,386,242   

TSMC Global Ltd., 1.625%, 04/03/18(b)(e)

    2,742,000         2,737,997   
    

 

 

 
       12,033,119   
    

 

 

 

Software 0.6%

    

Fiserv, Inc., 4.750%, 06/15/21

    1,795,000         1,945,798   

Oracle Corp., 5.750%, 04/15/18

    3,309,000         3,992,778   
    

 

 

 
       5,938,576   
    

 

 

 

Telecommunication Services 1.5%

  

AT&T, Inc., 0.900%, 02/12/16

    1,695,000         1,693,851   

AT&T, Inc., 3.875%, 08/15/21

    1,683,000         1,819,815   

CC Holdings GS V LLC, 3.849%, 04/15/23(b)

    4,294,000         4,326,046   

Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14

    1,591,000         1,653,612   

Cisco Systems, Inc., 5.500%, 02/22/16

    990,000         1,125,101   

Juniper Networks, Inc., 3.100%, 03/15/16

    665,000         696,886   
 

 

See Notes to Financial Statements.

 

68


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Intermediate Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

Rogers Communications, Inc., 7.500%, 03/15/15

    1,045,000         1,177,402   

Verizon Communications, Inc., 5.250%, 04/15/13

    2,264,000         2,267,688   
    

 

 

 
       14,760,401   
    

 

 

 

Transportation 0.1%

    

United Parcel Service, Inc., 3.125%, 01/15/21

    1,099,000         1,173,037   
    

 

 

 

Total Corporate Bonds
(Cost $241,550,087)

       255,252,960   
    

 

 

 

U.S. Government Agency Mortgages 7.1%

  

Federal Home Loan Mortgage Corporation

    

Pool #J18984, 3.000%, 04/01/27

    4,116,320         4,335,417   

Pool #J18800, 3.000%, 04/01/27

    2,253,915         2,375,010   

Pool #J19310, 3.000%, 06/01/27

    4,380,238         4,593,526   

Pool #J19417, 3.000%, 06/01/27

    14,957,652         15,761,273   

Pool #J19597, 3.000%, 07/01/27

    835,043         879,385   

Pool #J22996, 3.000%, 03/01/28

    4,739,723         4,991,409   
    

 

 

 
       32,936,020   
    

 

 

 

Federal National Mortgage Association

    

Pool #AM0067, 2.740%, 08/01/22

    6,521,000         6,761,924   

Pool #AP1217, 2.500%, 07/01/27

    4,363,526         4,534,493   

Pool #AB5887, 2.500%, 08/01/27

    11,116,455         11,558,955   

Pool #AM2100, 2.250%, 01/01/28

    11,705,608         11,610,548   
    

 

 

 
       34,465,920   
    

 

 

 

Total U.S. Government Agency Mortgages
(Cost $66,805,621)

       67,401,940   
    

 

 

 

U.S. Treasury Obligations 63.6%

  

U.S. Treasury Notes 63.6%

    

0.500%, 10/15/14

    85,619,000         85,980,226   

0.375%, 03/15/15

    146,997,000         147,347,294   

0.375%, 11/15/15

    58,444,000         58,535,289   

1.750%, 05/31/16

    54,692,000         57,016,410   

1.000%, 03/31/17(f)

    76,454,000         77,785,982   

0.625%, 08/31/17

    112,651,000         112,536,547   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Treasury Notes—continued

  

2.125%, 08/15/21

    15,392,000         16,084,640   

2.000%, 02/15/23

    49,814,000         50,444,446   
    

 

 

 

Total U.S. Treasury Obligations
(Cost $601,897,837)

       605,730,834   
    

 

 

 
Preferred Stocks 1.2%     

Banks 0.8%

    

PNC Financial Services Group, Inc., Series P, 6.125%(a)(c)

    83,550         2,311,829   

US Bancorp, Series G, 6.000%(c)

    202,200         5,629,248   
    

 

 

 
       7,941,077   
    

 

 

 

Insurance 0.3%

  

  

Arch Capital Group Ltd., Series C, 6.750%(c)

    45,625         1,270,656   

Reinsurance Group of America, Inc., 6.200%(a)

    73,900         2,012,297   
    

 

 

 
       3,282,953   
    

 

 

 

Real Estate Investment Trust 0.1%

  

  

Public Storage, Series U, 5.625%(c)

    19,025         490,274   
    

 

 

 

Total Preferred Stocks
(Cost $10,765,032)

       11,714,304   
    

 

 

 

Short-Term Investment 0.2%

  

  

RidgeWorth Funds Securities Lending Joint Account(g)

    2,034,885         2,034,885   
    

 

 

 

Total Short-Term Investment
(Cost $2,034,885)

       2,034,885   
    

 

 

 

Money Market Fund 0.1%

  

  

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(h)

    931,089         931,089   
    

 

 

 

Total Money Market Fund
(Cost $931,089)

       931,089   
    

 

 

 

Total Investments
(Cost $925,739,489) — 99.2%

       944,880,807   

Other assets in excess of liabilities — 0.8%

       7,745,070   
    

 

 

 

Net Assets — 100.0%

     $ 952,625,877   
    

 

 

 

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(b)

Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based

 

 

See Notes to Financial Statements.

 

69


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Intermediate Bond Fund — concluded

 

  upon procedures approved by the Board of Trustees. These securities represent 5.1% of net assets as of March 31, 2013.

 

(c) Security is perpetual in nature and has no stated maturity.

 

(d) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $1,990,752.

 

(e) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(f) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(g) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(k)).

 

(h) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

MTN — Medium Term Note

 

See Notes to Financial Statements.

 

70


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Investment Grade Tax-Exempt Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Municipal Bonds 92.3%     

Alabama 1.5%

    

Birmingham, Series A, GO, 0.000%, 03/01/27(a)(b)

    2,500,000         2,380,700   

Birmingham, Series A, GO, 0.000%, 03/01/37(a)(b)

    3,000,000         2,697,780   

Birmingham Special Care Facilities Financing Authority Health Care Facilities, Children’s Hospital of Alabama, RB, 6.000%, 06/01/39, AGC(c)

    9,000,000         10,572,120   
    

 

 

 
       15,650,600   
    

 

 

 

Alaska 4.9%

    

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 5.500%, 09/01/23, AGC(c)

    18,000,000         21,820,320   

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/28, AGC(c)

    15,500,000         19,125,760   

Matanuska-Susitna Borough Lease, Goose Creek Correctional Center, RB, 6.000%, 09/01/32, AGC

    7,250,000         8,793,887   
    

 

 

 
       49,739,967   
    

 

 

 

Arizona 0.5%

    

City Of Mesa, Excise Tax Revenue, RB, 5.000%, 07/01/32(a)

    5,000,000         5,627,500   
    

 

 

 

California 18.7%

    

California Health Facilities Financing Authority, Series C, RB, 6.250%, 10/01/24

    3,500,000         4,275,460   

California Health Facilities Financing Authority, Series C, RB, 6.500%, 10/01/33

    6,500,000         7,820,865   

California Health Facilities Financing Authority, Series C, RB, 6.500%, 10/01/38(c)

    5,400,000         6,497,334   

California State, GO, 5.000%, 09/01/19

    5,375,000         6,531,592   

California State, GO, 5.000%, 02/01/21

    10,000,000         12,189,700   
     Shares or
Principal
Amount($)
     Value($)  

California—continued

    

California State, GO, 5.000%, 09/01/21

    10,340,000         12,686,353   

California State, GO, 5.000%, 03/01/24

    3,030,000         3,570,431   

California State, GO, 5.000%, 09/01/25

    2,410,000         2,776,923   

California State, GO, 5.000%, 09/01/26

    4,000,000         4,587,320   

California State, GO, 5.000%, 09/01/27

    7,720,000         8,871,206   

California State, GO, 5.000%, 02/01/38

    4,000,000         4,428,960   

California State, GO, 5.250%, 03/01/30(c)

    15,000,000         17,555,700   

California State, GO, 6.500%, 04/01/33(c)

    24,500,000         30,352,315   

California State Department of Water Resources, RB, 5.000%, 12/01/20

    2,000,000         2,511,080   

California State Department of Water Resources, RB, 5.000%, 12/01/22

    6,880,000         8,777,573   

Contra Costa Transportation Authority, Series B, RB, 5.000%, 03/01/24

    1,500,000         1,823,055   

Los Angeles California Community College District, Series A, GO, 6.000%, 08/01/33(c)

    10,000,000         12,244,100   

Los Angeles California Wastewater System, Series A, RB, 5.750%, 06/01/34

    5,000,000         6,038,700   

San Francisco City & County Airports Commission, AMT, RB, 5.750%, 05/01/24, AGM

    5,000,000         5,839,450   

University of California, Series AG, RB, 0.180%, 05/15/14

    8,720,000         8,688,957   

University of California, Series O, RB, 5.750%, 05/15/27

    3,000,000         3,673,140   

University of California, Series O, RB, 5.750%, 05/15/28(c)

    10,000,000         12,243,800   

University of California, Series O, RB, 5.750%, 05/15/29(c)

    5,095,000         6,224,969   
    

 

 

 
       190,208,983   
    

 

 

 
 

 

See Notes to Financial Statements.

 

71


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

District of Columbia 1.0%

    

District of Columbia, Income Tax, Series A, RB, 5.500%, 12/01/30(c)

    8,000,000         9,746,800   
    

 

 

 

Florida 3.0%

    

Florida State, Series B, GO, 5.000%, 06/01/22

    5,050,000         6,333,306   

Florida State Board of Education, Capital Outlay, Public Education Project, GO, 9.125%, 06/01/14, ETM(c)

    950,000         1,036,184   

Florida State Board of Education, Lottery Revenue, Capital Outlay, Public Education Project, Series A, GO, 5.000%, 06/01/20, NATL-RE/FGIC

    5,320,000         5,888,229   

Florida State Board of Governors, Series A, RB, 5.000%, 10/01/20

    2,285,000         2,757,515   

Florida State Board of Governors, Series A, RB, 5.000%, 10/01/21

    2,410,000         2,925,379   

Highlands County Health Facilities Authority, Adventist Health, Series G, RB, 5.125%, 11/15/18(d)

    2,900,000         3,290,311   

Miami-Dade County, Building Better Communities Program, Series B, GO, 6.000%, 07/01/23

    2,000,000         2,432,020   

Miami-Dade County, Building Better Communities Program, Series B, GO, 6.125%, 07/01/25

    3,000,000         3,643,230   

Polk County School District Sales Tax Authority, RB, 5.250%, 10/01/15, AGM

    2,000,000         2,123,820   
    

 

 

 
       30,429,994   
    

 

 

 

Georgia 2.3%

    

Fulton County Water & Sewer Revenue, RB, 5.000%, 01/01/19

    3,500,000         4,214,000   

Georgia State, Series A, GO, 5.000%, 01/01/19

    8,080,000         9,858,731   

Georgia State, Series B, GO, 5.000%, 07/01/17(c)

    5,000,000         5,515,350   
     Shares or
Principal
Amount($)
     Value($)  

Georgia—continued

    

Henry County School District, GO, 5.000%, 08/01/13, NATL-RE/FGIC

    4,030,000         4,095,730   
    

 

 

 
       23,683,811   
    

 

 

 

Illinois 2.2%

    

Chicago IL O’ Hare International Airport Revenue, Series D, RB, 5.250%, 01/01/19, NATL-RE, AMT(c)

    7,680,000         8,289,485   

Chicago IL O’Hare International Airport Revenue, Series A, AMT, RB, 5.000%, 01/01/20

    3,000,000         3,528,870   

Grundy Kendall & Will Counties Community School District No. 201, GO, 5.750%, 10/15/21, AGC

    4,340,000         5,224,101   

Illinois State Sales Tax, First Series, RB, 5.000%, 06/15/22(c)

    2,975,000         3,003,590   

University of Illinois, Auxiliary Facilities System, Series A, RB, 5.750%, 04/01/38

    2,000,000         2,252,320   
    

 

 

 
       22,298,366   
    

 

 

 

Indiana 0.1%

    

Indiana Finance Authority, AMT, RB, 5.000%, 07/01/35

    1,000,000         1,055,810   
    

 

 

 

Kansas 3.2%

    

Kansas State Development Finance Authority, Adventist Bolingbrook Hospital, RB, 5.750%, 11/15/38(c)

    26,090,000         30,621,311   

Kansas State Development Finance Authority, Adventist Bolingbrook Hospital, Series D, RB, 5.000%, 11/15/22

    2,000,000         2,276,880   
    

 

 

 
       32,898,191   
    

 

 

 

Maryland 3.4%

    

Baltimore County, GO, 5.000%, 08/01/15

    2,810,000         3,113,396   

Maryland State Department of Transportation, Consolidated Transportation, RB, 5.000%, 05/01/17, Pre-refunded 05/01/2014 @ 100

    4,500,000         4,731,705   
 

 

See Notes to Financial Statements.

 

72


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Maryland—continued

    

Maryland State Department of Transportation, RB, 5.000%, 02/15/19

    9,000,000         10,658,610   

Washington Suburban Sanitary Commission, GO, 5.000%, 06/01/21

    12,500,000         15,801,250   
    

 

 

 
       34,304,961   
    

 

 

 

Massachusetts 2.8%

    

Commonwealth of Massachusetts, Series B, GO, 5.000%, 06/01/24(c)

    11,990,000         14,629,958   

Massachusetts School Building Authority, Series A, RB, 5.000%, 08/15/22, Pre-refunded 08/15/2015 @ 100, AGM

    5,000,000         5,550,050   

Massachusetts State, Consolidated Lien, Series C, GO, 5.000%, 01/01/15

    2,000,000         2,165,080   

Massachusetts State, Consolidated Lien, Series C, GO, 5.000%, 09/01/18

    5,310,000         5,888,896   
    

 

 

 
       28,233,984   
    

 

 

 

Michigan 2.2%

    

Michigan Finance Authority, RB, 5.000%, 07/01/21

    10,000,000         11,891,900   

Michigan Municipal Bond Authority, RB, 5.000%, 10/01/17(c)

    9,270,000         10,313,431   
    

 

 

 
       22,205,331   
    

 

 

 

Minnesota 3.2%

    

Minnesota State, Series A, GO, 5.000%, 08/01/21

    19,000,000         24,005,170   

Minnesota State, Series B, RB, 5.000%, 03/01/20

    7,190,000         8,852,040   
    

 

 

 
       32,857,210   
    

 

 

 

Missouri 3.0%

    

Missouri State Board of Public Buildings, Series A, RB, 5.000%, 10/01/21

    18,875,000         23,375,744   

Missouri State Highways & Transit Commission State Road, Second Lien, RB, 5.250%, 05/01/20

    6,500,000         7,641,920   
    

 

 

 
       31,017,664   
    

 

 

 

New Jersey 8.4%

    

New Jersey Economic Development Authority, RB, 5.000%, 09/01/20, ST APPROP

    4,000,000         4,829,040   
     Shares or
Principal
Amount($)
     Value($)  

New Jersey—continued

    

New Jersey Economic Development Authority, RB, 5.000%, 03/01/25

    9,000,000         10,580,670   

New Jersey Higher Education Student Assistance Authority, AMT, RB, 4.000%, 12/01/17

    3,100,000         3,367,096   

New Jersey Higher Education Student Assistance Authority, AMT, Series 1A, RB, 4.000%, 12/01/19

    5,000,000         5,387,800   

New Jersey Higher Education Student Assistance Authority, AMT, Series 1A, RB, 5.000%, 12/01/20

    9,775,000         11,173,705   

New Jersey State Transportation Trust Fund Authority, Transportation System, Series A, RB, 6.000%, 12/15/38

    7,710,000         9,162,564   

New Jersey State Transportation Trust Fund Authority, Transportation System, Series D, RB, 5.000%, 06/15/19, AGM(c)

    13,125,000         14,351,531   

New Jersey State Turnpike Authority, Series A, RB, 5.000%, 01/01/30(a)

    3,000,000         3,396,180   

New Jersey Transportation Trust Fund Authority, Series A, RB, 6.000%, 06/15/35, ST APPROP

    5,305,000         6,408,493   

New Jersey Transportation Trust Fund Authority, Series B, RB, 5.250%, 12/15/17, NATL-RE/FGIC(c)

    15,000,000         16,902,450   
    

 

 

 
       85,559,529   
    

 

 

 

New Mexico 0.6%

    

New Mexico Finance Authority, Public Project Revolving Fund, Series C, RB, 5.000%, 06/01/21, AMBAC

    5,595,000         5,886,444   
    

 

 

 
 

 

See Notes to Financial Statements.

 

73


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

New York 10.8%

    

Erie County Industrial Development Agency, City School District Buffalo, Series A, RB, 5.750%, 05/01/29, BHAC

    5,340,000         6,280,374   

Erie County Industrial Development Agency, RB, 5.000%, 05/01/19, State Aid Withholding

    2,000,000         2,399,720   

New York City, GO, 5.000%, 08/01/23

    5,000,000         6,015,850   

New York City, GO, 5.000%, 08/15/23, Pre-refunded 08/15/2014 @ 100

    13,730,000         14,626,294   

New York City Municipal Water Finance Authority, Water & Sewer System, Series A, RB, 5.750%, 06/15/40(c)

    15,330,000         18,099,978   

New York City Transitional Finance Authority, Building Aid, Series S-2, RB, 6.000%, 07/15/38, State Aid Withholding(c)

    7,500,000         8,854,050   

New York City Transitional Finance Authority Future Tax Secured Revenue, RB, 5.000%, 02/01/28

    5,000,000         5,785,350   

New York City Transitional Finance Authority Future Tax Secured Revenue, RB, 5.000%, 02/01/30(a)

    10,000,000         11,721,000   

New York Municipal Bond Bank Agency, RB, 5.000%, 12/01/20, State Aid Withholding

    2,950,000         3,615,284   

New York State Thruway Authority, Series B, RB, 5.000%, 04/01/18, AMBAC

    5,700,000         6,323,466   

Port Authority of New York & New Jersey, AMT, RB, 3.000%, 10/01/14, GO of Authority

    4,765,000         4,953,694   

Port Authority of New York & New Jersey, AMT, RB, 5.000%, 07/15/20

    3,575,000         4,353,671   

Port Authority of New York & New Jersey, AMT, RB, 5.000%, 07/15/21

    5,235,000         6,407,640   
     Shares or
Principal
Amount($)
     Value($)  

New York—continued

    

Port Authority of New York & New Jersey, AMT, RB, 5.000%, 07/15/22

    5,515,000         6,781,244   

Port Authority of New York & New Jersey, AMT, RB, 5.000%, 07/15/23

    2,900,000         3,553,863   
    

 

 

 
       109,771,478   
    

 

 

 

North Carolina 3.8%

    

North Carolina State, Series A, GO, 5.000%, 03/01/17

    3,000,000         3,510,120   

North State Carolina, Series A, RB, 5.000%, 05/01/20

    3,040,000         3,750,235   

North State Carolina, Series D, GO, 4.000%, 06/01/20

    20,250,000         23,912,213   

Raleigh, Series B, GO, 5.000%, 04/01/20

    4,700,000         5,854,132   

University of North Carolina, Chapel Hill, Series A, RB, 5.000%, 02/01/14

    1,885,000         1,950,428   
    

 

 

 
       38,977,128   
    

 

 

 

Ohio 0.2%

    

Ohio State, RB, 5.000%, 12/15/20

    2,000,000         2,481,420   
    

 

 

 

Oregon 1.7%

    

Oregon State Department of Transportation, Highway User Tax, Series B, RB, 5.000%, 11/15/17, Pre-refunded 11/15/2014 @ 100

    2,500,000         2,690,550   

Portland Community College District, GO, 5.000%, 06/15/21

    7,560,000         9,462,852   

Tri-County Metropolitan Transportation District, Refunding Limited Tax Pledge, Series A, RB, 5.000%, 09/01/20, AGM

    5,170,000         5,707,163   
    

 

 

 
       17,860,565   
    

 

 

 

Pennsylvania 5.3%

    

Allegheny County Port Authority, RB, 5.750%, 03/01/29

    7,500,000         8,783,400   

Easton Area School District, Series 2006, GO, 7.750%, 04/01/25, AGM

    3,980,000         4,703,325   
 

 

See Notes to Financial Statements.

 

74


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Investment Grade Tax-Exempt Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Pennsylvania—continued

    

Pennsylvania Economic Development Financing Authority, RB, 5.000%, 07/01/21

    7,500,000         8,837,025   

Pennsylvania Economic Development Financing Authority, RB, 5.000%, 01/01/22

    3,000,000         3,485,370   

Pennsylvania Economic Development Financing Authority, RB, 5.000%, 07/01/22

    14,485,000         16,398,034   

University of Pittsburgh, Commonwealth System of Higher Education, Series B, RB, 5.500%, 09/15/23, GO of University

    6,750,000         8,312,490   

University of Pittsburgh, Commonwealth System of Higher Education, Series B, RB, 5.500%, 09/15/24, GO of University

    2,500,000         3,069,075   
    

 

 

 
       53,588,719   
    

 

 

 

South Carolina 0.2%

    

South Carolina State Public Service Authority, Series A, RB, 5.000%, 01/01/17, Pre-refunded 01/01/2014 @ 100, AGM

    2,300,000         2,383,421   
    

 

 

 

Texas 6.1%

    

Austin, Series 2005, GO, 5.000%, 09/01/19, NATL-RE

    5,000,000         5,436,250   

Dallas Independent School District, GO, 6.375%, 02/15/34, PSF-GTD(c)

    6,000,000         7,374,000   

Harris County Health Facilities Development Authority, Memorial Hermann Healthcare System, Series B, RB, 7.125%, 12/01/31

    5,550,000         7,362,685   

Houston Higher Education Finance Corp., Series A, RB, 4.000%, 02/15/22

    1,000,000         1,051,510   

Lower Colorado River Authority, Series A, RB, 5.875%, 05/15/15, AGM

    1,185,000         1,190,427   

North Harris County Regional Water Authority, RB, 5.250%, 12/15/18, NATL-RE

    2,690,000         2,892,611   
     Shares or
Principal
Amount($)
     Value($)  

Texas—continued

    

San Antonio Electric & Gas, RB, 5.000%, 02/01/24, Pre-refunded 02/01/2015 @ 100

    1,875,000         2,034,000   

Texas State, RB, 2.500%, 08/30/13

    20,240,000         20,438,959   

Texas State Public Finance Authority, Unemployment Comp., Series A, RB, 5.000%, 01/01/15

    5,000,000         5,405,350   

Texas State Public Finance Authority, Charter School Finance Corp., Series A, RB, 6.200%, 02/15/40

    2,850,000         3,362,202   

Texas State University Systems Financing, RB, 5.000%, 03/15/18, AGM

    5,035,000         5,475,563   
    

 

 

 
       62,023,557   
    

 

 

 

Virginia 0.9%

    

Norfolk, Series C, GO, 5.000%, 04/01/23

    1,875,000         2,176,987   

Virginia State, Series D, GO, 5.000%, 06/01/18

    5,540,000         6,695,866   
    

 

 

 
       8,872,853   
    

 

 

 

Washington 2.3%

    

Central Puget Sound Regional Transit Authority, Series A, RB, 5.000%, 11/01/23, Pre-refunded 05/01/2015 @ 100, AMBAC(c)

    6,000,000         6,584,880   

Pierce County School District No. 10, Tacoma, GO, 5.000%, 12/01/16, Pre-refunded 12/01/2013 @ 100, NATL-RE/FGIC

    5,200,000         5,368,012   

Washington State, Series A, GO, 5.000%, 07/01/19, Pre-refunded 07/01/2014 @ 100

    2,855,000         3,026,015   

Washington State, Series A, GO, 5.000%, 07/01/20, Pre-refunded 07/01/2015 @ 100, AGM

    7,700,000         8,510,194   
    

 

 

 
       23,489,101   
    

 

 

 

Total Municipal Bonds
(Cost $886,069,775)

       940,853,387   
    

 

 

 
 

 

See Notes to Financial Statements.

 

75


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Investment Grade Tax-Exempt Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Money Market Fund 9.1%

    

Federated Tax-Free Obligations Fund, Institutional Shares, 0.01%(e)

    92,683,724         92,683,724   
    

 

 

 

Total Money Market Fund
(Cost $92,683,724)

       92,683,724   
    

 

 

 

Total Investments
(Cost $978,753,499) — 101.4%

   

     1,033,537,111   

Liabilities in excess of other assets — (1.4)%

       (14,408,057
    

 

 

 

Net Assets — 100.0%

     $ 1,019,129,054   
    

 

 

 

 

(a) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(b) Step bond. The rate shown is the rate in effect as of March 31, 2013.

 

(c) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.
(d) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(e) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

AGC     Security guaranteed by Assured Guaranty Corporation
AGM     Security guaranteed by Assured Guaranty Municipal Corporation
AMBAC     Security guaranteed by American Municipal Bond Assurance Corporation
AMT     Income subject to Alternative Minimum Tax
BHAC     Security guaranteed by Berkshire Hathaway Assurance Corporation
ETM     Escrowed to maturity
FGIC     Security guaranteed by Financial Guaranty Insurance Company
GO     General Obligation
NATL-RE     Reinsurance provided by National Public Finance Guarantee Corporation
PSF-GTD     Security guaranteed by Permanent School Fund Guarantee Program
RB     Revenue Bond
ST APPROP     State Appropriation
 

 

See Notes to Financial Statements.

 

76


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Limited Duration Fund

 

      Shares or
Principal
Amount($)
     Value($)  
Asset-Backed Securities 8.5%      

Automobiles 4.2%

     

Nissan Master Owner Trust Receivables, Series 2013-A, Cl A, 0.503%, 02/15/18(a)

     400,000         400,000   
     

 

 

 

Credit Card 4.3%

     

Discover Card Master Trust, Series 2013-A1, Cl A1, 0.503%, 08/17/20(a)

     400,000         400,000   
     

 

 

 

Total Asset-Backed Securities (Cost $800,000)

        800,000   
     

 

 

 

Collateralized Mortgage Obligations 74.0%

  

  

Agency Collateralized Mortgage Obligations 74.0%

  

Federal Home Loan Mortgage Corporation

     

Series 2589, Cl F, 0.403%, 03/17/33(a)

     851,450         848,847   

Series 2806, Cl FV, REMIC, 0.643%, 11/15/33(a)

     1,396,315         1,398,543   
     

 

 

 
        2,247,390   
     

 

 

 

Federal National Mortgage Association

     

Series 2004-79, Cl FM, 0.504%, 11/25/24(a)

     1,482,241         1,486,494   

Series 2010-90, Cl MF, 0.604%, 04/25/28(a)

     941,729         944,213   

Series 2011-98, Cl FL, 0.504%, 10/25/26(a)

     2,242,982         2,247,901   
     

 

 

 
        4,678,608   
     

 

 

 

Total Collateralized Mortgage Obligations
(Cost $6,889,148)

        6,925,998   
     

 

 

 
      Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages 6.5%

  

  

Academic Loan Funding Trust

     

Series 2012-1A, Cl A1, 1.004%, 12/27/22(a)(b)

     386,794         391,273   
     

 

 

 

SLC Student Loan Trust 2005-3

     

Series 2005-3, Cl A1, 0.290%, 06/15/20(a)

     216,908         216,768   
     

 

 

 

Total U.S. Government Agency Mortgages
(Cost $602,972)

        608,041   
     

 

 

 

Money Market Fund 11.0%

     

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(c)

     1,026,778         1,026,778   
     

 

 

 

Total Money Market Fund (Cost $1,026,778)

        1,026,778   
     

 

 

 

Total Investments (Cost $9,318,898) — 100.0%

        9,360,817   

Liabilities in excess of other assets — (0.0)%(d)

        (3,408
     

 

 

 

Net Assets — 100.0%

        $9,357,409   
     

 

 

 

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 4.2% of net assets as of March 31, 2013.

 

(c) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

 

(d) Less than 0.05% of Net Assets.
 

 

See Notes to Financial Statements.

 

77


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Limited-Term Federal Mortgage Securities Fund

 

     Shares or
Principal
Amount($)
     Value($)  

Collateralized Mortgage Obligations 17.1%

  

Agency Collateralized Mortgage Obligations 12.6%

  

Federal Home Loan Mortgage Corporation

    

Series 3774, Cl EW, 3.500%, 12/15/25

    559,000         602,644   

Series 3800, Cl CB, 3.500%, 02/15/26

    159,000         171,349   

Series 3909, Cl UB, REMIC, 3.500%, 08/15/26(a)

    800,000         870,683   
    

 

 

 
       1,644,676   
    

 

 

 

Federal National Mortgage Association

    

Series 2011-36, Cl DB, 3.000%, 05/25/26

    499,000         526,293   
    

 

 

 
       2,170,969   
    

 

 

 

Commercial Mortgage Backed Securities 4.5%

  

Extended Stay America Trust

    

Series 2013-ESH7, Cl A27, 2.958%, 12/05/31(b)

    250,000         252,845   
    

 

 

 

GS Mortgage Securities Corp. II

  

Series 2012-ALOH, Cl A, 3.551%, 04/10/34(b)

    250,000         262,879   

Series 2012-BWTR, Cl A, 2.954%, 11/05/34(b)

    250,000         249,047   
    

 

 

 
       511,926   
    

 

 

 
       764,771   
    

 

 

 

Total Collateralized Mortgage Obligations
(Cost $2,815,526)

       2,935,740   
    

 

 

 

U.S. Government Agency Mortgages 79.7%

  

Federal Home Loan Mortgage Corporation

    

Pool #J19132, 3.000%, 05/01/27

    350,804         369,652   

Pool #J20738, 2.500%, 10/01/27

    142,586         147,940   

Pool #J22284, 2.500%, 03/01/28(a)

    598,290         621,831   

Pool #C91404, 3.500%, 10/01/31

    257,886         274,343   

Pool #C01785, 5.000%, 02/01/34(a)

    866,007         940,123   

Pool #G02163, 5.000%, 04/01/36

    183,140         197,669   

Pool #G03092, 5.500%, 07/01/37

    356,678         387,953   

Pool #G04337, 5.500%, 04/01/38(a)

    777,266         841,813   

Pool #G06079, 6.000%, 07/01/39

    429,211         469,817   

TBA, 2.500%, 15 year Maturity(c)

    500,000         517,656   
    

 

 

 
       4,768,797   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Federal National Mortgage Association

  

Pool #AM2137, 1.950%, 08/01/20

    634,000         635,921   

Pool #AJ1910, 2.500%, 05/01/27

    350,951         364,702   

Pool #AP7520, 3.000%, 09/01/27

    932,962         988,590   

Pool #AP6649, 3.000%, 10/01/27

    594,885         628,868   

Pool #AR6681, 2.500%, 02/01/28

    230,669         239,869   

Pool #MA0919, 3.500%, 12/01/31

    393,502         420,211   

Pool #MA0949, 3.500%, 01/01/32

    177,257         189,288   

Pool #MA0976, 3.500%, 02/01/32

    349,911         372,951   

Pool #655219, 3.500%, 08/01/32

    125,677         134,286   

Pool #AB8428, 3.500%, 02/01/33

    186,948         199,870   

Pool #730727, 5.000%, 08/01/33

    283,467         315,434   

Pool #725773, 5.500%, 09/01/34

    565,252         623,608   

Pool #AE0115, 5.500%, 12/01/35

    424,700         468,906   

Pool #AI7951, 4.500%, 08/01/36

    147,822         159,335   

Pool #995082, 5.500%, 08/01/37

    152,759         168,530   

Pool #889529, 6.000%, 03/01/38

    508,470         568,146   

Pool #995724, 6.000%, 04/01/39

    455,917         509,426   

Pool #AA9840, 4.500%, 06/01/39

    283,955         305,982   

Pool #AB1343, 4.500%, 08/01/40

    151,600         165,476   

Pool #AC4624, 3.500%, 10/01/40

    287,380         306,886   

Pool #AL0005, 4.500%, 01/01/41

    79,296         85,546   

Pool #AB2694, 4.500%, 04/01/41

    84,241         92,119   

Pool #AL1627, 4.500%, 09/01/41

    246,720         270,793   
    

 

 

 
       8,214,743   
    

 

 

 

Government National Mortgage Association

    

Pool #798919, 3.500%, 04/15/27

    378,168         405,447   
 

 

See Notes to Financial Statements.

 

78


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Limited-Term Federal Mortgage Securities Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AB1393, 3.000%, 08/15/27

    22,796         24,319   

Pool #711679, 3.000%, 10/15/27

    244,562         260,594   
    

 

 

 
       690,360   
    

 

 

 

Total U.S. Government Agency Mortgages
(Cost $13,376,306)

       13,673,900   
    

 

 

 

U.S. Treasury Obligation 1.7%

    

U.S. Treasury Note 1.7%

    

2.000%, 02/15/23

    300,000         303,797   
    

 

 

 

Total U.S. Treasury Obligation (Cost $303,785)

       303,797   
    

 

 

 

Money Market Fund 6.1%

    

State Street Institutional Treasury Money Market Fund, Institutional Class,
0.00%(d)

    1,044,967         1,044,967   
    

 

 

 

Total Money Market Fund (Cost $1,044,967)

       1,044,967   
    

 

 

 

Total Investments
(Cost $17,540,584) — 104.6%

       17,958,404   

Liabilities in excess of other
assets — (4.6)%

       (796,550
    

 

 

 

Net Assets — 100.0%

     $ 17,161,854   
    

 

 

 

 

(a) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 4.5% of net assets as of March 31, 2013.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

REMIC     Real Estate Mortgage Investment Conduit
TBA     To Be Announced. Securities purchased on a forward commitment basis with an appropriate principal amount and no definitive maturity date. The actual principal and maturity date will be determined upon settlement date.
 

 

See Notes to Financial Statements.

 

79


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

North Carolina Tax-Exempt Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Municipal Bonds 91.6%     

Alabama 0.4%

    

Birmingham, Series A, GO, 0.000%, 03/01/32(a)(b)

    215,000         198,634   
    

 

 

 

California 3.6%

    

California State, GO, 5.000%, 02/01/20

    645,000         780,108   

California State, GO, 5.000%, 02/01/38

    1,000,000         1,107,240   
    

 

 

 
       1,887,348   
    

 

 

 

Georgia 1.6%

    

Municipal Electric Authority of Georgia, RB, 5.000%, 01/01/30

    730,000         842,004   
    

 

 

 

New Jersey 0.8%

    

New Jersey Economic Development Authority, RB, 5.000%, 03/01/28

    340,000         387,644   
    

 

 

 

North Carolina 82.0%

    

Charlotte NC Water & Sewer System Revenue, Series B, RB, 5.000%, 07/01/19

    1,045,000         1,285,831   

Charlotte Water & Sewer System, RB, 5.000%, 07/01/21

    1,080,000         1,292,836   

Durham, Series A, GO, 4.000%, 07/01/16

    710,000         789,719   

Guilford County, GO, 4.000%, 10/01/14

    1,825,000         1,926,397   

Guilford County, Series A, GO, 5.000%, 02/01/18

    1,135,000         1,358,425   

Iredell County School Project, COP, 5.125%, 06/01/27, AGM

    1,000,000         1,104,040   

Nash Health Care Systems Health Care Facilities, RB, 5.000%, 11/01/41(c)

    1,650,000         1,779,888   

New Hanover County Hospital, New Hanover Regional Medical Center, Series B, RB, 5.125%, 10/01/31, AGM(c)

    2,000,000         2,193,800   

North Carolina Capital Facilities Finance Agency, RB, 5.250%, 03/01/33(c)

    2,000,000         2,193,920   

North Carolina Eastern Municipal Power Agency, Series D, RB, 5.000%, 01/01/16

    750,000         839,692   

North Carolina Infrastructure Finance Corp., Series A, COP, 5.000%, 02/01/15

    1,000,000         1,082,390   

North Carolina Medical Care Commission, Series A, RB, 5.000%, 10/01/38

    2,890,000         3,162,151   
     Shares or
Principal
Amount($)
     Value($)  

North Carolina—continued

    

North Carolina Medical Care Commission Health Care Facilities, Series A, RB, 6.125%, 10/01/39, Pre-refunded 10/01/2014 @ 100

    750,000         816,172   

North Carolina Medical Care Commission Health Care Facilities, University Health Systems, Series D, RB, 6.000%, 12/01/29

    750,000         884,310   

North Carolina Medical Care Commission Health Care Facilities, University Health Systems, Series D, RB, 6.250%, 12/01/33(c)

    2,000,000         2,388,360   

North Carolina Medical Care Commission Health Care Facilities, Wake County Hospital System, Series A, RB, 5.625%, 10/01/29, Pre-refunded 10/01/2014 @ 100, AGM

    500,000         540,355   

North Carolina Medical Care Commission Health Care Facilities, Wake County Hospital System, Series A, RB, 5.875%, 10/01/38, Pre-refunded 10/01/2014 @ 100, AGM

    500,000         542,235   

North Carolina Municipal Power Agency, No. 1 Catawba Electric, RB, ETM, 5.000%, 01/01/20

    1,600,000         1,971,328   

North Carolina Municipal Power Agency, No. 1 Catawba Electric, Series A, RB, 5.000%, 01/01/30(c)

    3,000,000         3,335,130   

North Carolina Municipal Power Agency, No. 1 Catawba Electric, Series A, RB, 5.250%, 01/01/15

    1,000,000         1,084,520   

North Carolina State, Series A, GO, 5.000%, 03/01/16

    1,000,000         1,087,710   

North Carolina State, Series C, GO, 5.000%, 05/01/20

    1,000,000         1,247,340   

North Carolina State Ports Authority Facilities, Series A, RB, 5.250%, 02/01/40(c)

    1,500,000         1,666,995   

North Carolina State University at Raleigh, Series A, RB, 5.000%, 10/01/37

    2,000,000         2,328,820   
 

 

See Notes to Financial Statements.

 

80


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

North Carolina Tax-Exempt Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

North Carolina—continued

    

North State Carolina, Series A, RB, 5.000%, 05/01/14

    1,000,000         1,052,120   

North State Carolina, Series C, GO, 5.000%, 05/01/21

    1,980,000         2,499,988   

Town of Cary NC Combined Utility Systems Revenue, RB, 5.000%, 12/01/28

    700,000         842,870   

Union County NC, Series A, GO, 5.000%, 03/01/22

    1,000,000         1,258,140   
    

 

 

 
       42,555,482   
    

 

 

 

Puerto Rico 1.4%

    

Puerto Rico Commonwealth Highway & Transportation Authority Highway, Series CC, RB, 5.500%, 07/01/30

    720,000         719,935   
    

 

 

 

Virginia 1.8%

    

Virginia Small Business Financing Authority, AMT, RB, 5.000%, 07/01/34

    630,000         647,955   

Virginia Small Business Financing Authority, AMT, RB, 5.000%, 01/01/40

    265,000         271,591   
    

 

 

 
       919,546   
    

 

 

 

Total Municipal Bonds
(Cost $45,327,117)

   

     47,510,593   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Money Market Fund 8.1%

    

Federated Tax-Free Obligations Fund, Institutional Shares, 0.01%(d)

    4,219,295         4,219,295   
    

 

 

 

Total Money Market Fund
(Cost $4,219,295)

   

     4,219,295   
    

 

 

 

Total Investments
(Cost $49,546,412) — 99.7%

       51,729,888   

Other assets in excess of liabilities — 0.3%

       171,331   
    

 

 

 

Net Assets — 100.0%

     $ 51,901,219   
    

 

 

 

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2013.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(d) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

AGM     Security guaranteed by Assured Guaranty Municipal Corporation
AMT     Income subject to Alternative Minimum Tax
COP     Certificate of Participation
ETM     Escrowed to Maturity
GO     General Obligation
RB     Revenue Bond
 

 

See Notes to Financial Statements.

 

81


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Bank Loans 87.0%   

Aerospace/Defense 2.3%

  

AM General LLC, Term Loan B, 03/22/18(a)(b)(c)

    22,955,000         22,495,900   

AWAS Finance Luxembourg 2012 S.A., New Term Loan, 4.750%, 07/16/18(c)(d)

    4,565,508         4,582,629   

DAE Aviation Holdings, Inc., Term Loan B, 6.250%, 10/29/18(c)(d)

    12,669,134         12,859,171   

DAE Aviation Holdings, Inc., New Term Loan B2, 6.250%, 11/02/18(c)(d)

    5,743,341         5,829,491   

DigitalGlobe, Inc., New Term Loan B, 3.750%, 01/24/20(c)(d)

    19,265,000         19,511,785   

Huntington Ingalls Industries, Inc., Term Loan A, 2.750%, 03/30/16(c)(d)

    11,548,781         11,548,781   

LMI Aerospace, Inc., Term Loan, 5.500%, 12/28/18(c)(d)

    1,995,000         2,019,937   

Silver II US Holdings LLC, Term Loan, 4.000%, 12/05/19(c)(d)

    9,201,938         9,269,204   

Six3 Systems, Inc., Term Loan B, 7.000%, 10/04/19(c)(d)

    7,361,550         7,398,358   

TASC, Inc., New Term Loan B,
12/18/15(a)(b)(c)

    9,974,619         9,993,371   

Transdigm, Inc., Term Loan C, 3.750%, 02/28/20(c)(d)

    13,720,613         13,892,120   

WESCO Distribution, Inc., Term Loan B, 4.500%-5.750%, 12/12/19(c)(d)

    6,324,150         6,392,641   

WP CPP Holdings LLC, 1st Lien Term Loan, 4.750%, 12/27/19(c)(d)

    9,935,100         9,955,765   
    

 

 

 
       135,749,153   
    

 

 

 

Auto Manufacturers 0.5%

  

Navistar International Corp., Term Loan B, 7.000%, 07/16/14(b)(c)(d)

    9,493,725         9,586,289   

Remy International, Inc., New Term Loan B, 4.250%, 03/05/20(c)(d)

    6,669,881         6,728,242   
     Shares or
Principal
Amount($)
     Value($)  

Auto Manufacturers—continued

  

TI Group Automotive Systems LLC, Term Loan B, 03/14/18(a)(b)(c)

    3,500,000         3,526,250   

Wabash National Corp., Term Loan B, 6.000%, 05/02/19(c)(d)

    10,073,759         10,193,435   
    

 

 

 
       30,034,216   
    

 

 

 

Auto Parts & Equipment 0.7%

  

Allison Transmission, Inc., Term Loan B2, 3.210%, 08/07/17(c)(d)

    5,019,549         5,058,600   

Allison Transmission, Inc., Term Loan B3, 4.250%, 08/23/19(c)(d)

    17,984,600         18,226,853   

Metaldyne Co. LLC, Term Loan B, 5.000%, 12/18/18(c)

    2,000,000         2,021,000   

Tomkins LLC, Term Loan B2, 3.750%, 09/29/16(c)(d)

    15,736,857         15,904,140   
    

 

 

 
       41,210,593   
    

 

 

 

Chemicals 1.9%

  

AI Chem & Cy S.C.A., Term Loan B1, 08/30/19(a)(b)(c)

    3,000,000         3,033,750   

Ascend Performance Materials LLC, Term Loan B, 6.750%, 04/10/18(c)(d)

    3,986,436         4,061,181   

Eagle Spinco, Inc., Term Loan 1, 01/27/17(a)(b)(c)

    4,588,940         4,588,940   

Houghton International, Inc., New Term Loan B, 5.250%, 12/20/19(c)(d)

    1,995,000         2,024,925   

Huntsman International LLC, Extended Term Loan B, 2.743%, 04/19/17(c)(d)

    11,106,918         11,172,893   

Ineos US Finance LLC, 6 year Term Loan, 6.500%, 05/04/18(c)(d)(e)

    43,390,540         44,072,206   

Nexeo Solutions LLC, Term Loan B, 5.000%, 09/08/17(c)(d)

    5,075,242         5,072,095   

PQ Corp., Term Loan, 4.500%, 08/07/17(c)(d)

    6,403,950         6,472,024   

Taminco NV, USD Term Loan B2, 4.250%, 02/15/19(c)(d)

    4,529,336         4,559,048   
 

 

See Notes to Financial Statements.

 

82


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Chemicals—continued

  

U.S. Coatings Acquisition, Inc., Term Loan, 4.750%, 02/03/20(c)(d)

    15,840,000         16,044,653   

Univar, Inc., Term Loan B, 5.000%, 06/30/17(c)(d)

    8,739,971         8,819,767   
    

 

 

 
       109,921,482   
    

 

 

 

Commercial Services 3.7%

  

ABC Supply, Bridge Term Loan, 03/28/14(a)(b)(c)

    3,850,000         3,850,000   

ADS Waste Holdings, Inc., New Term Loan B, 4.250%, 10/09/19(c)(d)

    27,296,588         27,575,286   

AlixPartners LLP, Refinance Term Loan B2, 4.500%, 06/28/19(c)(d)

    8,649,746         8,709,170   

Corporate Executive Board Co. (The), Term Loan B, 5.000%, 07/02/19(c)(d)

    3,725,663         3,762,919   

Dematic S.A., Term Loan, 5.250%, 12/27/19(c)(d)

    10,837,838         10,946,216   

Genpact International, Inc., Term Loan B, 4.250%, 08/30/19(c)(d)

    13,974,775         14,166,928   

Harland Clarke Holdings Corp., Extended Term Loan B2, 5.454%, 06/30/17(b)(c)(d)

    44,629,861         44,071,988   

Hertz Corp. (The), Term Loan B, 3.750%, 03/09/18(c)(d)

    11,652,372         11,662,044   

Hertz Corp. (The), Add-On Term Loan B, 3.750%, 03/11/18(c)(d)

    15,850,275         16,048,404   

Infor (US), Inc., Term Loan B2, 5.250%, 04/05/18(c)(d)

    21,098,876         21,420,633   

Instant Web, Inc., Term Loan B, 3.579%, 08/07/14(c)(d)

    9,768,190         6,837,733   

Merrill Communications, LLC, 1st Lien Term Loan, 7.250%, 03/08/18(c)(d)

    18,425,000         18,411,181   

Moneygram International, Inc., New Term Loan B, 03/20/20(a)(b)(c)

    6,170,000         6,220,162   
     Shares or
Principal
Amount($)
     Value($)  

Commercial Services—continued

  

Vertafore, Inc., Term Loan, 5.250%, 07/29/16(c)(d)

    5,789,097         5,851,793   

Walter Energy, Inc., Term Loan B, 5.750%, 04/02/18(c)(d)

    4,609,717         4,634,056   

West Corp., Term Loan B8, 4.250%, 06/29/18(c)(d)

    12,282,688         12,477,123   
    

 

 

 
       216,645,636   
    

 

 

 

Consumer Discretionary 0.5%

  

Collective Brands Finance, Inc., Term Loan, 7.250%, 10/09/19(c)(d)

    9,077,250         9,196,434   

Revlon, Inc., Term Loan B, 4.000%, 11/19/17(c)(d)

    4,585,000         4,650,611   

Spectrum Brands, Inc., New Term Loan, 4.500%, 12/17/19(c)(d)

    3,625,913         3,675,769   

Sun Products Corp. (The), New Term Loan, 5.500%, 03/18/20(c)(d)

    11,040,000         11,136,600   
    

 

 

 
       28,659,414   
    

 

 

 

Consumer Staples 0.6%

  

Serta Simmons Holdings LLC, Term Loan, 5.000%-6.000%, 10/01/19(c)(d)(e)

    37,200,000         37,683,600   
    

 

 

 

Diversified Financial Services 4.7%

  

Acosta, Inc., Term Loan D, 5.000%, 03/02/18(c)(d)

    7,166,871         7,254,236   

Affinion Group, Inc., Term Loan B, 6.500%, 10/10/16(c)(d)

    14,847,615         14,510,426   

American Capital Holdings, Inc., New Term Loan, 5.500%, 08/22/16(c)(d)

    10,300,000         10,454,500   

Asset Acceptance Capital Corp., New Term Loan B, 8.750%, 11/14/17(c)(d)

    2,343,750         2,358,398   

BNY ConvergEx Group LLC, Eze Term Loan, 5.250%, 12/16/16(b)(c)(d)

    5,136,725         5,107,856   

BNY ConvergEx Group LLC, Top Borrower Term Loan, 5.250%, 12/19/16(b)(c)(d)

    11,346,986         11,283,216   
 

 

See Notes to Financial Statements.

 

83


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Diversified Financial Services—continued

  

Clipper Acquisitions Corp., Term Loan B, 4.000%, 02/06/20(c)(d)

    8,124,638         8,205,884   

Delos Aircraft Inc., Term Loan 2, 4.750%, 04/12/16(c)(d)

    9,330,000         9,376,650   

Duff & Phelps Investment Management Co., Term Loan B, 03/14/20(a)(b)(c)(e)

    5,080,000         5,127,650   

First Data Corp., Extended 2018 Term Loan B, 4.204%, 03/23/18(b)(c)(d)(e)

    44,219,924         44,026,683   

First Data Corp., Extended 2017 US Term Loan, 5.204%, 03/24/17(c)(d)

    2,890,325         2,909,835   

First Data Corp., 2018 Add-on Term Loan, 5.204%, 09/24/18(c)(d)

    14,145,000         14,237,367   

Getty Images, Inc., Term Loan B, 4.750%, 10/18/19(c)(d)

    7,870,275         7,972,589   

Interactive Data Corp., New Term Loan B, 3.750%, 02/11/18(c)(d)

    11,338,572         11,459,101   

Lawson Software, Inc., Term Loan B1, 5.750%, 10/18/16(c)(d)

    5,516,500         5,575,140   

MIP Delaware LLC, Term Loan, 07/12/18(a)(b)(c)

    6,905,000         6,951,056   

Nuveen Investments, Inc., New Term Loan, 5.204%, 05/13/17(c)(d)

    16,525,000         16,823,111   

Oberthur Technologies Holding SAS, Term Loan B, 6.252%, 03/30/19(c)(d)

    7,377,925         7,331,813   

Springleaf Financial Funding Co., Term Loan, 5.500%, 05/10/17(c)(d)(e)

    43,330,000         43,555,749   

SunGard Data Systems, Inc., Term Loan C, 3.955%, 02/28/17(c)(d)

    4,638,736         4,658,033   

SunGard Data Systems, Inc., Term Loan E, 4.000%, 03/08/20(c)(d)

    20,730,000         20,917,814   

SunGard Data Systems, Inc., Term Loan D, 4.500%, 01/31/20(c)(d)

    18,064,725         18,275,540   
     Shares or
Principal
Amount($)
    Value($)  

Diversified Financial Services—continued

  

Transfirst Holdings, Inc., 1st Lien Term Loan, 6.250%, 12/27/17(c)(d)

    1,995,000        2,021,813   
   

 

 

 
      280,394,460   
   

 

 

 

Electric 1.2%

  

Calpine Corp., Term Loan B1, 4.000%, 04/02/18(c)(d)

    14,307,457        14,474,425   

Calpine Corp., Term Loan B2, 4.000%, 04/02/18(c)(d)

    1,881,488        1,903,445   

Calpine Corp., Term Loan B3, 4.000%, 10/09/19(c)(d)

    21,253,200        21,518,865   

NRG Energy, Inc., New Term Loan B, 3.250%, 07/02/18(c)(d)

    7,827,087        7,924,925   

Texas Competitive Electric Holdings Co. LLC, Non-Extended Term Loan, 3.702%-3.792%, 10/10/14(c)(d)

    3,930,000        2,879,825   

Texas Competitive Electric Holdings Co. LLC, Extended Term Loan, 4.702%-4.792%, 10/10/17(c)(d)(e)

    32,671,642        23,137,731   
   

 

 

 
      71,839,216   
   

 

 

 

Electronics 0.3%

   

Blackboard, Inc., Term Loan B2, 6.250%, 10/04/18(b)(c)(d)

    9,311,663        9,439,698   

Ceridian Corp, Extended Canadian Term Loan, 5.953%, 05/09/17(c)(d)

    1,081,000        1,076,946   

Ceridian Corp., Extended Term Loan, 5.953%, 05/09/17(c)(d)

    5,986,866        6,089,481   
   

 

 

 
      16,606,125   
   

 

 

 

Energy 1.8%

   

Aventine Renewable Energy Holdings, Inc., Term Loan B, 15.000%, 12/21/15(c)(d)(f)(g)

    6,812,661        5,109,496   

Chesapeake Energy Corp., New Unsecured Term Loan, 5.750%, 12/01/17(c)(d)(e)

    54,430,000        56,056,368   
 

 

See Notes to Financial Statements.

 

84


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Energy—continued

    

Glenn Pool Oil & Gas Trust, Term Loan, 4.500%, 05/02/16(c)(d)

    37,829,680         37,829,680   

Progressive Waste Solutions Ltd., Term Loan B, 3.500%, 10/24/19(c)(d)

    6,962,550         7,045,265   
    

 

 

 
       106,040,809   
    

 

 

 

Entertainment 1.6%

    

AMC Networks Inc., Term Loan A, 1.952%, 06/30/17(c)(d)

    8,000,000         7,990,000   

Barrington Broadcasting Group LLC, Term Loan B, 7.500%, 06/14/17(c)(d)

    2,350,053         2,365,728   

Cedar Fair, L.P., New Term Loan B, 3.250%, 03/06/20(c)(d)

    9,185,000         9,294,118   

Cinemark USA, Inc., New Term Loan, 3.210%-5.250%, 12/18/19(c)(d)

    8,398,950         8,472,441   

Delta 2 (LUX) S.A.R.L., Extended Term Loan B2, 6.000%, 04/30/19(c)(d)

    7,584,761         7,698,532   

Hubbard Radio, LLC, Term Loan B, 4.500%, 04/28/17(c)(d)

    5,125,141         5,169,986   

IMG Worldwide, Inc., New Term Loan B, 5.500%, 06/16/16(d)(g)

    14,464,270         14,500,430   

Kasima LLC, Term Loan B, 5.000%, 03/31/17(c)(d)

    11,760,000         11,818,800   

Live Nation Entertainment, Inc., Term Loan B, 4.500%, 11/07/16(c)(d)

    5,061,116         5,094,014   

Regent Seven Seas Cruises, Inc., Refinance Term Loan B, 4.750%, 12/21/18(c)(d)

    7,076,438         7,156,047   

SeaWorld Parks & Entertainment, Inc., Term Loan B, 4.000%, 08/17/17(c)(d)

    10,680,042         10,720,092   

WaveDivision Holdings LLC, Term Loan B, 4.000%, 10/15/19(c)(d)

    3,705,713         3,745,104   
    

 

 

 
       94,025,292   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Food 4.3%

    

AdvancePierre Foods, Inc., Term Loan, 5.750%, 07/10/17(c)(d)

    4,638,375         4,697,514   

Aramark Corp., Non-Extended Synthetic Letter of Credit, 2.084%, 01/27/14(c)(d)

    484,590         488,346   

Aramark Corp., Extended Term Loan C, 3.704%-3.784%, 07/26/16(b)(c)(d)

    22,594,049         22,702,275   

Aramark Corp., Term Loan D, 4.000%, 09/09/19(c)(d)

    11,460,000         11,560,161   

Blue Buffalo Co., Ltd., Term Loan B2, 4.750%, 08/08/19(c)(d)

    8,228,702         8,341,846   

Brasa Holdings, Inc., 1st Lien Term Loan, 7.500%, 07/19/19(c)(d)

    4,114,325         4,124,611   

Burger King Corp., New Term Loan B, 3.750%, 09/27/19(c)(d)

    4,074,525         4,121,097   

Del Monte Foods Co., Term Loan, 4.000%, 03/08/18(c)(d)

    6,369,038         6,421,773   

Dunkin’ Brands, Inc., Term Loan B3, 3.750%-5.000%, 02/14/20(c)(d)

    15,797,011         15,965,723   

HJ Heinz Co., 2nd Lien Bridge Term Loan, 02/14/14(a)(b)(c)

    10,875,000         10,875,000   

HJ Heinz Co., Term Loan B1, 03/27/19(a)(b)(c)

    20,000,000         20,080,000   

HJ Heinz Co., Term Loan B2, 03/27/20(a)(b)(c)

    96,990,000         97,811,505   

Hostess Brands, Inc., Term Loan, 03/06/20(a)(b)

    3,000,000         3,067,500   

ISS Holdings A/S, Term Loan B12, 03/15/18(a)(b)(c)

    10,680,000         10,693,350   

Landry’s, Inc., Term Loan B, 4.750%, 04/24/18(c)(d)

    19,266,991         19,411,493   

OSI Restaurant Partners LLC, New Term Loan B, 4.750%, 10/24/19(c)(d)

    3,558,750         3,604,017   
 

 

See Notes to Financial Statements.

 

85


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Food—continued

    

Pinnacle Foods Finance LLC, Term Loan E, 4.750%, 10/17/18(c)(d)

    3,672,900         3,708,490   

Wendy’s International, Inc., Term Loan B, 4.750%, 05/15/19(c)(d)

    9,178,875         9,266,809   
    

 

 

 
       256,941,510   
    

 

 

 

Health Care 7.8%

    

American Renal Holdings, Inc., 1st Lien Term Loan, 4.500%, 09/22/19(c)(d)

    6,420,000         6,432,070   

Aptalis Pharma, Inc., Term Loan B, 5.500%, 02/10/17(c)(d)

    10,642,624         10,717,122   

Aptalis Pharma, Inc., Term Loan B2, 5.500%, 02/10/17(c)(d)

    10,297,225         10,369,306   

Ardent Medical Services, Inc., Term Loan, 6.750%, 07/02/18(c)(d)

    10,882,725         11,064,140   

Bausch & Lomb, Inc., Term Loan B, 5.250%, 05/17/19(c)(d)

    23,930,170         24,147,934   

Biomet, Inc., Extended Term Loan B, 3.954%-4.034%, 07/25/17(c)(d)

    4,522,275         4,571,251   

Community Health Systems, Inc., Extended Term Loan, 3.784%-3.787%, 01/25/17(c)(d)

    10,881,212         10,986,325   

Convatec, Inc., Term Loan, 5.000%, 12/22/16(c)(d)

    8,709,339         8,833,447   

DaVita, Inc., Term Loan A3, 2.710%, 09/02/17(c)(d)

    296,250         296,203   

DaVita, Inc., Term Loan B2, 4.000%, 11/01/19(c)(d)

    28,358,925         28,620,394   

Drumm Investors LLC, Term Loan, 5.000%, 05/04/18(c)(d)

    14,230,698         13,746,000   

HCA, Inc., Extended Term Loan B3, 3.454%, 05/01/18(c)(d)(e)

    36,840,135         37,148,487   

HCA, Inc., Extended Term Loan B2, 3.534%, 03/31/17(c)(d)

    12,000,000         12,098,280   
     Shares or
Principal
Amount($)
     Value($)  

Health Care—continued

    

Health Management Associates, Inc., Term Loan B, 11/16/18(a)(b)(c)

    4,403,677         4,440,360   

Hologic, Inc., New Term Loan A, 2.203%, 07/17/17(c)(d)

    4,694,625         4,693,170   

Hologic, Inc., Term Loan B, 4.500%, 08/01/19(c)(d)

    13,920,050         14,094,051   

Iasis Healthcare LLC, Term Loan B2, 4.500%, 05/03/18(c)(d)(e)

    19,875,445         20,115,540   

IMS Health, Inc., USD Term Loan B1, 3.750%, 08/25/17(c)(d)

    6,087,696         6,147,051   

Inc Research, Inc., Refinance Term Loan B, 6.000%, 07/12/18(c)(d)

    17,183,783         17,334,141   

Lifepoint Hospitals, Inc., Term Loan B, 2.710%, 07/24/17(c)(d)

    6,369,038         6,416,805   

MedAssets, Inc., Term Loan B, 4.000%, 12/13/19(c)(d)

    2,368,750         2,394,404   

Nusil Technology LLC, New Term Loan, 5.000%, 04/07/17(c)(d)

    997,275         1,003,199   

Onex Carestream Finance LP, Term Loan B, 5.000%, 02/25/17(c)(d)

    23,826,899         23,899,333   

Patheon, Inc., Term Loan, 7.250%, 12/06/18(c)(d)

    9,032,363         9,167,848   

RPI Finance Trust, New Term Loan Tranche 2, 3.500%, 05/09/18(c)(d)(e)

    68,950,824         69,942,337   

RPI Finance Trust, Incremental Tranche 2, 4.000%, 11/09/18(c)(d)

    7,272,644         7,336,280   

Sage Products, Inc., Refinance Term Loan B, 4.250%, 12/13/19(c)(d)

    4,525,000         4,553,281   

Select Medical Corp., New Incremental Term Loan B, 3.540%-5.500%, 02/13/16(c)(d)

    4,299,225         4,299,225   
 

 

See Notes to Financial Statements.

 

86


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Health Care—continued

    

Universal Health Services, Inc., New Term Loan B, 3.750%, 11/15/16(c)(d)

    5,605,921         5,660,243   

Vanguard Health Holding Co. II LLC, Refinance Term Loan B, 3.750%, 01/29/16(c)(d)

    5,528,246         5,592,761   

Warner Chilcott Co. LLC, New Term Loan B2, 4.250%, 03/15/18(c)(d)

    1,363,804         1,384,548   

Warner Chilcott Corp., Incremental Term Loan B1, 4.250%, 03/15/18(c)(d)

    1,675,390         1,700,873   

Warner Chilcott Corp., New Term Loan B1, 4.250%, 03/15/18(c)(d)

    3,848,756         3,907,295   

WC Luxco S.A.R.L., New Term Loan B3, 4.250%, 03/15/18(c)(d)

    3,032,864         3,078,994   

WP Prism, Inc., PIK Term Loan, 05/31/18(a)(b)(c)

    65,000,000         64,512,500   
    

 

 

 
       460,705,198   
    

 

 

 

Healthcare-Services 0.8%

    

Bright Horizons Family Solutions, Inc., New Term Loan B, 4.000%-5.250%, 01/16/20(c)(d)

    3,670,800         3,698,331   

Par Pharmaceutical Cos., Inc., Refinance Term Loan B, 4.250%, 09/30/19(c)(d)

    15,840,500         15,985,598   

Regionalcare Hospital Partners, Inc., Refinance Term Loan, 7.000%, 11/04/18(c)(d)

    9,163,593         9,278,138   

Valeant Pharmaceuticals International, Inc., Refinance Term Loan D1, 3.500%, 02/13/19(c)(d)

    4,538,625         4,588,051   

Valeant Pharmaceuticals International, Inc., Refinance Term Loan C1, 3.500%, 12/11/19(c)(d)

    16,438,800         16,616,832   
    

 

 

 
       50,166,950   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Information Technology 1.7%

  

CDW LLC, Extended Term Loan, 4.000%, 07/14/17(c)(d)

    20,251,553         20,327,496   

CompuCom Systems, Inc., New Term Loan, 6.500%, 10/04/18(c)(d)

    9,281,738         9,455,770   

DataPipe, Inc., 1st Lien Term Loan, 5.750%, 03/06/20(c)(d)

    4,605,000         4,639,537   

Edwards (Cayman Islands II) Ltd., New Term Loan B, 03/26/20(a)(b)(c)

    3,530,000         3,530,000   

Flextronics International Ltd., Senior Term Loan Tranche A DD A-2, 2.454%, 10/01/14(c)(d)

    107,115         107,216   

Flextronics International Ltd., Term Loan A, 2.454%, 10/01/14(c)(d)

    1,667,529         1,669,096   

Flextronics International Ltd., Delayed Draw A-1A Term Loan, 2.454%, 10/01/14(c)(d)

    64,553         64,614   

Presidio, Inc., New Term Loan B, 5.750%, 03/31/17(c)(d)

    11,775,825         11,834,704   

Riverbed Technology, Inc., Term Loan, 4.000%, 12/18/19(c)(d)

    8,322,142         8,392,381   

Shield Finance Co. S.A.R.L., New Term Loan B, 6.500%, 05/10/19(c)(d)

    9,269,950         9,351,062   

Southern Graphics, Inc., Term Loan, 5.000%, 10/17/19(c)(d)

    7,261,800         7,334,418   

SS&C Technologies, Inc., Term Loan B-1, 5.000%, 06/07/19(c)(d)

    5,575,831         5,652,499   

SS&C Technologies, Inc., Term Loan B-2, 5.000%, 06/07/19(c)(d)

    576,810         584,741   

STG-Fairway Acquisitions, Term Loan B, 6.250%, 02/28/19(c)(d)

    11,465,000         11,443,560   

Verint Systems, Inc., New Term Loan B, 4.000%, 09/06/19(c)(d)

    4,507,297         4,533,575   
    

 

 

 
       98,920,669   
    

 

 

 
 

 

See Notes to Financial Statements.

 

87


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Insurance 2.3%

    

Alliance Data Systems Corp., Term Loan A, 05/24/16(a)(b)(c)

    38,250,000         38,202,187   

Asurion LLC, New Term Loan B1, 4.500%, 05/24/19(c)(d)(e)

    42,470,096         42,889,700   

Asurion LLC, Term Loan B1, 4.750%, 07/18/17(c)(d)

    3,750,000         3,780,488   

CNO Financial Group, Inc., New Term Loan B1, 4.250%, 09/28/16(c)(d)

    3,397,500         3,427,228   

Compass Investors, Inc., Term Loan, 5.250%, 12/27/19(c)(d)

    12,643,313         12,769,746   

Lonestar Intermediate Super Holdings LLC, Term Loan B, 11.000%, 09/02/19(c)(d)

    27,625,000         29,576,154   

Sedgwick CMS Holdings, Inc., Term Loan B2, 4.000%, 12/30/16(c)(d)

    6,890,884         6,925,269   
    

 

 

 
       137,570,772   
    

 

 

 

Leisure Time 0.2%

  

Bombardier Recreational Products, Inc., New Term Loan B, 5.000%, 01/22/19(c)(d)

    6,360,000         6,422,455   

ClubCorp Club Operations, Inc., Term Loan B, 5.000%, 11/30/16(c)(d)

    3,483,501         3,544,463   
    

 

 

 
       9,966,918   
    

 

 

 

Lodging 3.0%

  

Caesars Entertainment Operating Co., Extended Term Loan B6, 5.454%, 01/26/18(b)(c)(d)

    39,178,691         36,262,229   

CCM Merger, Inc., New Term Loan B, 6.000%, 03/01/17(c)(d)

    7,107,944         7,161,253   

Las Vegas Sands LLC, Term Loan B, 1.710%, 05/23/14(c)(d)

    12,502,327         12,503,952   

Las Vegas Sands LLC, Delayed Draw Term Loan, 1.710%, 05/23/14(c)(d)

    2,613,041         2,613,381   
     Shares or
Principal
Amount($)
     Value($)  

Lodging—continued

  

Las Vegas Sands LLC, Extended Delayed Draw Term Loan 2, 2.710%, 11/23/15(c)(d)

    3,951,936         3,955,650   

Las Vegas Sands LLC, Extended Delayed Draw Term Loan, 2.710%, 11/23/16(c)(d)

    2,693,622         2,696,154   

Las Vegas Sands LLC, Extended Term Loan B, 2.710%, 11/23/16(c)(d)

    13,402,096         13,414,694   

MGM Resorts International, Term Loan B, 4.250%, 12/20/19(c)(d)

    9,142,088         9,283,790   

MGM Resorts International, Term Loan A, 3.284%, 12/20/17(c)(d)

    27,790,350         27,838,983   

Peninsula Gaming LLC, Term Loan, 5.750%, 11/20/17(c)(d)

    5,660,813         5,752,801   

Penn National Gaming, Inc., New Term Loan B, 3.750%, 07/16/18(c)(d)

    4,168,894         4,200,119   

ROC Finance LLC, Term Loan, 03/28/19(a)(b)(c)

    3,560,000         3,575,593   

Seminole Tribe of Florida, Delayed Draw Term Loan B1, 1.784%, 03/05/14(b)(c)(d)

    3,088,796         3,088,209   

Seminole Tribe of Florida, Delayed Draw Term Loan B2, 1.784%, 03/05/14(b)(c)(d)

    14,816,659         14,813,843   

Seminole Tribe of Florida, Delayed Draw Term Loan B3, 1.784%, 03/05/14(b)(c)(d)

    3,512,324         3,511,657   

Station Casinos, Inc., New Term Loan B, 5.000%, 02/13/20(c)(d)

    23,170,000         23,420,931   

Twin River Management Group, Inc., Term Loan B, 09/27/18(a)(b)(c)

    3,565,000         3,591,737   
    

 

 

 
       177,684,976   
    

 

 

 

Machinery-Diversified 1.2%

  

Alliance Laundry Systems LLC, Refinance Term Loan, 4.500%, 12/07/18(c)(d)

    5,407,481         5,442,630   
 

 

See Notes to Financial Statements.

 

88


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
    Value($)  

Machinery-Diversified—continued

  

Alliance Laundry Systems LLC, 2nd Lien Term Loan, 9.500%, 12/10/19(c)(d)

    2,454,545        2,509,773   

Apex Tool Group, LLC, Term Loan B, 4.500%, 01/28/20(c)(d)

    7,270,000        7,362,911   

Brand Energy & Infrastructure Services, Inc., USD Term Loan B2, 5.750%, 10/16/16(c)(d)

    5,510,127        5,541,149   

Brand Energy & Infrastructure Services, Inc., Term Loan 2 Canadian, 5.750%, 10/16/16(c)(d)

    1,322,431        1,329,876   

Brand Energy & Infrastructure Services, Inc., USD Term Loan B1, 6.250%, 10/16/18(c)(d)

    5,145,026        5,190,045   

Brand Energy & Infrastructure Services, Inc., Term Loan 1 Canadian, 6.250%, 10/23/18(c)(d)

    1,234,806        1,245,611   

Milacron LLC, New Term Loan, 03/28/20(a)(b)(c)

    5,295,000        5,328,094   

NACCO Materials Handling Group, Inc., Term Loan B, 5.000%, 12/12/17(c)(d)

    6,038,500        6,068,692   

Schaeffler AG, USD Term Loan C, 4.250%, 01/27/17(c)(d)

    24,055,000        24,315,516   

Total Safety US, Inc., 1st Lien Term Loan, 5.750%, 02/21/20(c)(d)

    4,605,000        4,635,715   
   

 

 

 
      68,970,012   
   

 

 

 

Media 7.3%

  

CCO Holdings LLC, 3rd Lien Term Loan, 2.704%, 09/05/14(c)(d)(e)

    38,974,084        39,014,228   

Charter Communications Operating LLC, Term Loan D, 4.000%, 05/15/19(c)(d)

    2,937,295        2,960,382   

Clear Channel Communications, Inc., Term Loan C, 3.854%, 01/29/16(b)(c)(d)(e)

    66,088,288        57,567,525   
     Shares or
Principal
Amount($)
     Value($)  

Media—continued

  

Clear Channel Communications, Inc., Term Loan B, 3.854%, 01/29/16(c)(d)

    11,541,222         10,222,637   

EMI Music Publishing Ltd., Term Loan B, 4.250%, 06/29/18(c)(d)

    9,248,525         9,338,698   

Encompass Digital Media, Inc., New Term Loan B1, 6.750%, 08/10/17(c)(d)

    6,872,775         6,915,730   

McGraw-Hill Global Education Holdings, LLC, Term Loan, 9.000%, 03/22/19(c)(d)

    17,660,000         17,030,951   

Mediacom Broadband LLC, Term Loan F, 4.500%, 10/23/17(c)(d)

    4,526,988         4,551,524   

Mediacom Communications Corp., Term Loan G, 4.000%, 01/08/20(c)(d)

    26,188,400         26,352,078   

Mediacom Illinois LLC, Term Loan C, 1.680%, 01/30/15(c)(d)

    5,261,132         5,245,770   

Nielsen Holdings NV, Bridge Term Loan, 02/21/14(a)(b)(c)

    10,625,000         10,625,000   

Nine Entertainment Group Ltd., Term Loan B, 3.500%, 01/17/20(c)(d)

    10,945,000         10,958,681   

Radio One, Inc., Term Loan B, 7.500%, 03/31/16(c)(d)

    11,801,084         12,079,235   

Salem Communications Corp., Term Loan B, 4.500%, 03/15/20(c)(d)

    4,605,000         4,660,628   

San Juan Cable Holdings LLC, New Term Loan B, 6.000%, 06/09/17(c)(d)

    7,177,163         7,266,877   

San Juan Cable Holdings LLC, New 2nd Lien Term Loan, 8.784%, 06/08/18(c)(d)

    11,745,000         11,968,860   

Syniverse Holdings, Inc., Delayed Draw Term Loan, 2.000%, 04/23/19(c)(d)

    22,900,000         22,947,632   

Syniverse Holdings, Inc., Term Loan, 5.000%, 04/23/19(c)(d)

    13,636,950         13,735,818   
 

 

See Notes to Financial Statements.

 

89


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Media—continued

  

Tribune Co., Exit Term Loan, 4.000%, 12/31/19(c)(d)

    46,987,238         47,363,135   

Univision Communications, Inc., Initial Term Loan, 2.204%, 09/29/14(c)(d)

    8,535,105         8,544,749   

Univision Communications, Inc., Extended Term Loan, 4.454%, 03/31/17(c)(d)

    2,635,611         2,646,812   

Univision Communications, Inc., Refinance Term Loan C2, 4.750%, 02/21/20(c)(d)

    21,550,000         21,652,363   

Van Wagner Communications LLC, New Term Loan B, 8.250%, 08/03/18(c)(d)

    15,840,400         16,038,405   

Village Roadshow Films (BVI) Ltd., Term Loan B, 4.750%, 11/21/17(c)(d)

    38,225,000         38,702,813   

Weather Channel, Refinance Term Loan B, 3.500%, 02/07/17(c)(d)

    3,908,932         3,958,497   

WideOpenWest Finance LLC, Term Loan B, 03/26/19(a)(b)(c)

    10,580,000         10,670,353   

WideOpenWest Finance LLC, 1st Lien Term Loan, 6.250%, 07/17/18(c)(d)

    8,275,783         8,357,217   
    

 

 

 
       431,376,598   
    

 

 

 

Metals 0.3%

  

Arch Coal, Inc., Term Loan B, 5.750%, 05/16/18(c)(d)

    9,115,439         9,264,749   

Atlas Iron Ltd., Term Loan B, 8.750%, 12/07/17(b)(c)(d)

    7,915,163         7,934,951   
    

 

 

 
       17,199,700   
    

 

 

 

Mining 3.7%

  

Ameriforge Group, Inc., 1st Lien Term Loan, 6.000%, 12/19/19(c)(d)

    3,625,913         3,672,759   

FMG America Finance, Inc., Term Loan, 5.250%, 10/18/17(c)(d)(e)

    105,977,450         107,179,234   
     Shares or
Principal
Amount($)
     Value($)  

Mining—continued

  

Freeport McMoran Copper & Gold, Inc., Term Loan A, 02/12/18(a)(b)(c)

    91,165,000         90,823,131   

Novelis, Inc., New Term Loan, 3.750%, 03/10/17(c)(d)

    18,998,393         19,235,873   
    

 

 

 
       220,910,997   
    

 

 

 

Miscellaneous Manufacturer 1.4%

  

Boomerang Tube LLC, Term Loan, 11.000%, 10/02/17(c)(d)

    18,227,625         18,409,901   

Clarke American Corp., Non Extended Term Loan B1, 2.704%, 06/30/14(b)(c)(d)

    41,747,043         41,479,445   

Manitowoc Co., Inc. (The), New Term Loan B, 4.250%, 11/13/17(c)(d)

    842,997         852,127   

QS0001 Corp., 1st Lien Term Loan, 5.000%, 11/09/18(c)(d)

    4,553,588         4,614,287   

Sensata Technologies Finance Co. LLC, Term Loan, 3.750%, 05/11/18(c)(d)

    14,968,388         15,124,807   
    

 

 

 
       80,480,567   
    

 

 

 

Oil & Gas 5.2%

  

Alon USA Energy, Inc., Master Limited Partnership Term Loan, 9.250%, 11/26/18(c)(d)

    6,553,021         6,798,759   

Citgo Petroleum Corp., Term Loan B, 8.000%, 06/24/15(c)(d)

    1,862,857         1,876,829   

Citgo Petroleum Corp., Term Loan C, 9.000%, 06/23/17(c)(d)

    3,404,286         3,472,371   

EMG Utica LLC, Term Loan, 03/31/20(a)(b)(c)

    6,170,000         6,193,137   

Energy Transfer Equity, LP, New Term Loan B, 3.750%, 03/24/17(c)(d)(e)

    71,975,000         72,200,282   

EP Energy LLC, Incremental Term Loan, 4.500%, 04/26/19(c)(d)

    18,460,000         18,682,997   
 

 

See Notes to Financial Statements.

 

90


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Oil & Gas—continued

  

Frac Tech International LLC, Term Loan B, 8.500%, 05/06/16(c)(d)(e)

    25,262,896         23,859,289   

MEG Energy Corp., Refinance Term Loan, 3.750%, 03/31/20(c)(d)

    27,440,557         27,701,243   

NFR Energy LLC, 2nd Lien Term Loan, 8.750%, 12/31/18(c)(d)

    4,520,000         4,624,548   

Obsidian Holdings LLC, Tranche A, 6.750%, 11/02/15(c)(d)

    2,267,975         2,256,635   

Obsidian Natural Gas Trust, Term Loan, 7.000%, 11/02/15(b)(c)(d)

    23,422,840         23,539,954   

Plains Exploration & Production, 7 Year Term Loan, 4.000%, 11/30/19(c)(d)(e)

    36,515,000         36,551,515   

Ruby Western Pipeline Holdings, LLC, Term Loan B, 03/27/20(a)(b)(c)

    12,365,000         12,504,106   

Samson Investment Co., 2nd Lien Term Loan, 09/25/18(a)(b)(c)

    7,638,908         7,724,846   

Saxon Energy Services, Inc., Term Loan B, 5.500%, 01/22/19(c)(d)

    6,415,000         6,441,750   

Tesoro Corp., Term Loan B, 01/30/16(a)(b)(c)

    12,720,000         12,863,100   

TPF Generation Holdings LLC, Synthetic Letter of Credit, 2.284%, 12/13/13(c)(d)

    1,230,023         1,226,948   

Vantage Drilling Co., Term Loan B, 03/22/19(a)(b)(c)

    12,360,000         12,406,350   

Vantage Drilling Co., Term Loan, 6.250%, 10/26/17(c)(d)

    27,217,125         27,387,232   
    

 

 

 
       308,311,891   
    

 

 

 

Packaging & Containers 3.1%

  

Berlin Packaging LLC, 1st Lien Term Loan, 03/25/19(a)(b)(c)

    3,530,000         3,512,350   

Berry Plastics Holding Corp., Term Loan C, 2.204%, 04/03/15(c)(d)(e)

    13,395,635         13,438,902   
     Shares or
Principal
Amount($)
     Value($)  

Packaging & Containers—continued

  

Berry Plastics Holding Corp., Term Loan D, 3.500%, 02/04/20(c)(d)

    116,260,000         115,942,610   

BWAY Corp., Term Loan B, 4.500%-5.500%, 08/07/17(c)(d)

    5,441,363         5,498,497   

Consolidated Container Co. LLC, Term Loan Reprice, 5.000%, 07/03/19(c)(d)

    4,567,050         4,616,785   

Reynolds Group Holdings, Inc., New Dollar Term Loan, 4.750%, 09/28/18(c)(d)

    18,407,500         18,662,444   

Sealed Air Corp., New Term Loan, 4.000%, 10/03/18(c)(d)

    2,684,125         2,718,455   

Tronox, Inc., Term Loan, 03/13/20(a)(b)(c)

    18,615,000         18,863,138   
    

 

 

 
       183,253,181   
    

 

 

 

Real Estate 2.1%

    

Alliant Holdings I, Inc., New Term Loan B, 5.000%, 12/20/19(c)(d)

    10,842,825         10,969,361   

CB Richard Ellis Services, Inc., New Term Loan B, 03/29/21(a)(b)(c)

    19,400,000         19,497,000   

General Growth Properties, Inc., Debtor in Possession Term Loan, 07/11/16(a)(b)(c)

    17,888,152         17,530,389   

Istar Financial, Inc., Term Loan, 4.500%, 09/28/17(c)(d)

    56,402,678         56,843,182   

Istar Financial, Inc., Add on Term Loan A2, 7.000%, 03/17/17(c)(d)

    5,590,000         5,951,617   

Realogy Corp., Letter of Credit, 3.228%, 10/10/13(c)(d)

    155,119         154,925   

Realogy Corp., Extended Letter of Credit, 4.459%, 10/10/16(c)(d)

    755,357         765,116   

Realogy Corp., Extended Term Loan, 4.500%, 03/05/20(c)(d)

    12,860,000         13,026,151   
    

 

 

 
       124,737,741   
    

 

 

 
 

 

See Notes to Financial Statements.

 

91


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Retail 4.6%

    

Academy Ltd., Term Loan, 4.750%, 08/03/18(c)(d)

    6,363,025         6,446,954   

Albertson’s, LLC, Term Loan, 5.750%, 03/21/16(c)(d)

    22,005,000         22,362,581   

BJ’s Wholesale Club, Inc., Replacement Term Loan, 4.250%, 09/26/19(c)(d)

    8,250,000         8,320,455   

Capital Automotive LP, Term Loan B, 5.250%, 03/10/17(c)(d)(e)

    55,097,436         55,218,099   

Evergreen Acqco 1 LP, New Term Loan, 5.000%, 07/09/19(c)(d)

    6,412,775         6,486,907   

Gymboree Co. ( The), Initial Term Loan, 5.000%, 02/23/18(c)(d)

    9,100,000         8,807,526   

Harbor Freight Tools USA, Inc., Term Loan B, 5.500%, 11/14/17(c)(d)

    4,552,125         4,603,336   

HMK Intermediate Holdings LLC, Term Loan, 7.250%, 03/29/19(c)(d)

    9,177,300         9,246,130   

J Crew Group, Inc., Term Loan B1, 4.000%, 03/07/18(c)(d)

    7,295,681         7,371,410   

Jo-Ann Stores, Inc., Term Loan, 4.000%, 03/16/18(c)(d)

    9,756,448         9,846,695   

Michaels Stores, Inc., New Term Loan, 3.750%, 01/28/20(c)(d)

    12,725,000         12,843,343   

NBTY, Inc., Term Loan B2, 3.500%, 10/01/17(c)(d)

    9,075,518         9,177,618   

Ollie’s Bargain Outlet, Inc., Term Loan, 5.250%-6.250%, 09/27/19(c)(d)

    5,500,000         5,527,500   

Party City Holdings, Inc., Refinance Term Loan B, 4.250%, 07/29/19(b)(c)(d)

    18,787,800         18,914,054   

Petco Animal Supplies, Inc., New Term Loan, 4.000%, 11/24/17(c)(d)

    12,637,280         12,793,729   

Phillips-Van Heusen Corp., Term Loan B, 3.250%, 12/19/19(c)(d)

    17,745,000         17,920,676   
     Shares or
Principal
Amount($)
     Value($)  

Retail—continued

    

Pilot Travel Centers LLC, Term Loan B2, 4.250%, 08/07/19(c)(d)

    5,572,000         5,632,958   

Rite Aid Corp., Term Loan 6, 4.000%, 02/21/20(c)(d)

    18,310,000         18,508,297   

Rite Aid Corp., 2nd Lien Term Loan, 5.750%, 08/21/20(c)(d)

    10,985,000         11,369,475   

Supervalu, Inc., New Term Loan B, 6.250%, 03/21/19(c)(d)

    7,415,000         7,536,309   

Toys ‘R’ Us-Delaware, Inc., Term Loan B3, 5.250%, 05/25/18(c)(d)

    4,122,516         3,923,274   

Toys ‘R’ Us-Delaware, Inc., New Term Loan, 6.000%, 09/01/16(c)(d)

    10,444,195         10,217,869   
    

 

 

 
       273,075,195   
    

 

 

 

Semiconductors 2.2%

    

Freescale Semiconductor, Inc., Term Loan B3, 4.250%, 12/01/16(c)(d)

    3,000,000         3,021,240   

Freescale Semiconductor, Inc., Term Loan B4, 5.000%, 03/02/20(c)(d)(e)

    64,190,000         64,330,576   

Microsemi Corp., Repriced Term Loan, 3.750%, 02/19/20(c)(d)

    14,645,000         14,769,483   

ON Semiconductor Corp., Term Loan A, 01/02/18(a)(b)(c)

    46,990,000         45,345,350   

Semtech Corp., Term Loan B, 4.250%, 03/20/17(c)(d)

    3,692,100         3,729,021   
    

 

 

 
       131,195,670   
    

 

 

 

Software 0.6%

    

Eze Castle Software, Inc., 1st Lien Term Loan, 02/22/20(a)(b)(c)

    3,000,000         3,042,510   

Genesys Telecom Holdings, US, Inc., Senior Debt B, 4.000%, 01/25/20(c)(d)

    2,858,571         2,872,864   

Sophia, LP, New Term Loan B, 4.500%, 07/19/18(c)(d)

    10,315,981         10,455,247   
 

 

See Notes to Financial Statements.

 

92


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Software—continued

    

SurveyMonkey.com, LLC, Term Loan B, 5.500%, 02/05/19(c)(d)

    15,965,000         16,164,563   

VeriFone, Inc., Term Loan A, 12/28/16(a)(b)(c)

    3,676,371         3,671,775   

VeriFone, Inc., New Term Loan B, 4.250%, 12/28/18(c)(d)

    1,136,764         1,137,901   
    

 

 

 
       37,344,860   
    

 

 

 

Telecommunication Services 11.4%

  

  

Alcatel-Lucent USA, Inc., USD Term Loan B, 6.250%, 07/29/16(c)(d)

    2,270,000         2,299,987   

Alcatel-Lucent USA, Inc., USD Term Loan C, 7.250%, 01/31/19(b)(c)(d)(e)

    41,002,238         41,589,800   

Arris Group, Inc., Term Loan B, 02/07/20(a)(b)(c)

    29,315,000         29,351,644   

Atlantic Broadband Finance, LLC, New Term Loan B,
4.500%, 11/29/19(c)(d)

    3,298,425         3,341,305   

Avaya, Inc., Extended Term Loan B3, 4.788%, 10/26/17(b)(c)(d)

    17,410,053         16,413,328   

Avaya, Inc., Term Loan B5, 8.000%, 03/30/18(c)(d)

    11,023,114         11,085,174   

BBHI Acquisition LLC, Term Loan B, 4.500%, 12/14/17(c)(d)

    4,600,578         4,628,182   

Cequel Communications LLC, Term Loan B, 4.000%, 02/14/19(c)(d)(e)

    38,639,303         38,977,397   

Consolidated Communications, Inc., Term Loan B3, 5.250%, 12/31/18(c)(d)

    7,710,675         7,791,637   

Cricket Communications, Inc., Term Loan C, 02/21/20(a)(b)(c)

    13,775,000         13,847,319   

Cricket Communications, Inc., Term Loan, 4.750%, 10/10/19(c)(d)

    4,598,475         4,618,616   

Crown Castle International Corp., Term Loan B, 4.000%, 01/31/19(c)(d)

    22,045,744         22,275,460   

CSC Holdings, Inc., Extended Term Loan A4, 2.454%, 12/30/16(c)(d)

    780,125         778,822   
     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

  

Cumulus Media Holdings Inc., 1st Lien Term Loan, 4.500%, 09/17/18(c)(d)

    27,743,063         28,084,025   

Cumulus Media Holdings Inc., 2nd Lien Term Loan, 7.500%, 09/16/19(c)(d)

    13,680,000         14,079,046   

Entercom Radio, LLC, Term Loan B,
5.000%-6.000%, 11/23/18(c)(d)

    4,082,386         4,147,459   

Gray Television, Inc., New Term Loan B, 4.750%, 10/15/19(c)(d)

    16,662,117         16,842,568   

Integra Telecom, Inc., Refinance Term Loan, 6.000%, 02/15/19(c)(d)

    18,340,000         18,572,184   

Integra Telecom, Inc., Refinance 2nd Lien Term Loan, 9.750%, 02/15/20(c)(d)

    7,530,000         7,721,413   

Intelsat Jackson Holdings Ltd., Term Loan, 3.205%, 02/03/14(b)(c)(d)

    26,265,000         26,225,602   

Intelsat Jackson Holdings Ltd., Term Loan B1, 4.500%, 04/02/18(c)(d)(e)

    59,452,696         60,255,308   

Kabel Deutschland GMBH, Term Loan F1, 3.250%, 02/01/19(c)(d)

    17,285,000         17,450,590   

Level 3 Financing, Inc., Term Loan, 4.750%, 08/01/19(c)(d)(e)

    74,405,000         75,226,431   

Level 3 Financing, Inc., 2019 Term Loan B, 5.250%, 08/01/19(c)(d)

    29,765,000         30,144,504   

LIN Television Corp., Term Loan B, 4.000%, 12/21/18(c)(d)

    5,407,646         5,458,369   

MCC Iowa LLC, Term Loan D2, 1.930%, 01/30/15(c)(d)

    736,237         733,476   

MetroPCS Wireless, Inc., New Term Loan B3, 4.000%, 03/16/18(c)(d)

    13,832,976         13,865,068   

Mission Broadcasting, Inc., Mission Term Loan B, 1.750%-4.500%, 12/03/19(c)(d)

    809,714         822,370   
 

 

See Notes to Financial Statements.

 

93


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

  

NEP Supershooters, LP, 2nd Lien Term Loan, 9.500%, 08/18/20(c)(d)

    1,142,857         1,188,571   

Nexstar Broadcasting, Inc., Term Loan, 4.500%, 12/03/19(c)(d)

    1,915,286         1,945,222   

Peak Ten, Inc., New Term Loan B, 7.250%, 10/25/18(c)(d)

    9,226,875         9,307,610   

Telx Group, Inc., Term Loan B, 6.250%, 09/26/17(c)(d)

    7,378,298         7,439,759   

UPC Financing Partnership, Term Loan T, 3.704%, 12/30/16(c)(d)

    220,210         221,311   

Virgin Media Investment Holdings Ltd., USD Term Loan B, 02/17/20(a)(b)(c)

    68,835,000         68,503,904   

WMG Acquisition Corp., Term Loan, 5.250%, 11/01/18(c)(d)

    6,394,063         6,486,009   

Zayo Group LLC, New Term Loan B, 4.500%-4.750%, 07/02/19(c)(d)(e)

    61,684,248         62,265,930   
    

 

 

 
       673,985,400   
    

 

 

 

Telecommunications 1.8%

    

Lightsquared LP, Term Loan B, 0.000%, 10/01/14(c)(d)(f)(h)

    7,236,851         6,778,541   

SBA Finance, Add on Term Loan, 3.750%, 09/27/19(c)(d)

    4,638,375         4,693,479   

Vodafone Americas Finance 2, PIK Term Loan B, 6.250%, 07/11/16(d)(g)

    47,906,719         49,224,153   

Vodafone Americas Finance 2, PIK Term Loan, 6.875%, 08/11/15(d)(g)

    30,445,923         31,054,842   

Windstream Corp., Term Loan B4, 3.500%, 01/23/20(c)(d)

    10,832,850         10,934,462   

Windstream Corp., Term Loan B3, 4.000%, 08/08/19(c)(d)

    5,558,000         5,630,977   
    

 

 

 
       108,316,454   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Textiles 0.0%(i)

    

Wolverine Worldwide, Inc., Term Loan B, 4.000%-5.250%, 07/31/19(c)(d)

    2,449,063         2,470,493   
    

 

 

 

Transportation 1.5%

    

American Petroleum Tankers LLC, Term Loan B, 09/30/19(a)(b)(c)

    11,905,000         11,845,475   

August LuxUK Holding Co., S.A.R.L., Luxco Term Loan, 6.250%, 04/27/18(c)(d)

    2,617,910         2,650,634   

August LuxUK Holding Co., S.A.R.L., Luxco 2nd Lien Term Loan, 10.500%, 04/29/19(c)(d)

    1,130,000         1,141,300   

August U.S. Holding Co., Inc., Term Loan B, 6.250%, 04/27/18(c)(d)

    2,013,815         2,038,988   

August U.S. Holding Co., Inc., 2nd Lien Term Loan, 10.500%, 04/29/19(c)(d)

    870,000         878,700   

Avis Budget Car Rental, LLC, New Term Loan, 3.750%, 03/15/19(c)(d)

    9,319,035         9,414,182   

Commercial Barge Line Co., 1st Lien Term Loan, 7.500%, 09/23/19(c)(d)

    13,245,000         13,245,000   

Delta Air Lines, Inc., Term Loan B1, 5.250%, 10/18/18(c)(d)

    13,690,000         13,901,784   

FleetPride Corp., 1st Lien Term Loan, 5.250%, 11/20/19(c)(d)

    7,256,813         7,334,823   

Goodyear Tire & Rubber Co. (The), New 2nd Lien Term Loan, 4.750%, 04/30/19(c)(d)

    2,805,000         2,827,188   

Sabre, Inc., Term Loan C, 4.000%-5.250%, 02/19/18(c)(d)

    11,030,250         11,087,387   

Sabre, Inc., Term Loan B, 5.250%-6.250%, 02/19/19(c)(d)

    6,857,813         6,943,467   

United Airlines, Inc., New Term Loan B, 03/22/19(a)(b)(c)

    4,860,000         4,904,566   
    

 

 

 
       88,213,494   
    

 

 

 
 

 

See Notes to Financial Statements.

 

94


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Utilities 0.7%

  

AES Corp., Refinance Term Loan B, 3.750%, 06/01/18(c)(d)

    20,524,147         20,789,935   

Astoria Generating Co. Acquisitions, LLC, New Term Loan, 8.500%, 10/26/17(c)(d)

    6,475,000         6,693,531   

NGPL PipeCo LLC, Term Loan B, 6.750%, 09/15/17(c)(d)

    11,551,250         11,700,492   
    

 

 

 
       39,183,958   
    

 

 

 

Total Bank Loans (Cost $5,079,422,715)

       5,149,793,200   
    

 

 

 

Corporate Bonds 5.2%

  

Auto Manufacturers 0.0%(i)

  

General Motors Co. Escrow, 7.200%(f)(g)(j)(k)

    10,000,000           

General Motors Co. Escrow, 8.375%(f)(g)(j)(k)

    10,000,000           
    

 

 

 
         
    

 

 

 

Commercial Services 0.2%

  

Ceridian Corp., 11.250%, 11/15/15

    10,000,000         10,325,000   

Harland Clarke Holdings Corp., 9.750%, 08/01/18(c)

    3,715,000         3,937,900   
    

 

 

 
       14,262,900   
    

 

 

 

Diversified Financial Services 0.2%

  

International Lease Finance Corp., 3.875%, 04/15/18

    9,890,000         9,865,275   
    

 

 

 

Electric 0.7%

  

General Cable Corp., 2.659%, 04/01/15(d)(e)

    6,031,000         5,963,151   

Glenn Pool Oil & Gas Trust, 6.000%, 08/02/21(c)

    35,354,147         36,591,542   
    

 

 

 
       42,554,693   
    

 

 

 

Entertainment 0.0%(i)

  

Diamond Resorts Corp., 12.000%, 08/15/18

    1,000,000         1,105,000   
    

 

 

 

Food 0.2%

  

Hawk Acquisition Sub, Inc., 4.250%, 10/15/20(b)(c)

    13,100,000         13,116,375   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Hand/Machine Tools 0.0%(i)

  

Milacron LLC/Mcron Finance Corp., 7.750%, 02/15/21(c)

    200,000         206,750   
    

 

 

 

Holding Companies-Diversified 0.0%(i)

  

WaveDivision Escrow LLC/WaveDivision Escrow Corp., 8.125%, 09/01/20(c)

    2,195,000         2,293,775   
    

 

 

 

Internet 0.1%

  

Zayo Escrow Corp., 8.125%, 01/01/20

    1,475,000         1,652,000   

Zayo Escrow Corp., 10.125%, 07/01/20

    2,365,000         2,784,788   
    

 

 

 
       4,436,788   
    

 

 

 

Media 0.6%

  

Clear Channel Communications, Inc., 9.000%, 12/15/19(c)

    10,353,000         9,951,821   

Clear Channel Communications, Inc., 11.250%, 03/01/21(c)

    1,185,000         1,214,625   

LIN Television Corp., 8.375%, 04/15/18

    17,555,000         19,113,006   

McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 9.750%, 04/01/21(c)

    1,585,000         1,569,150   

Univision Communications, Inc., 6.875%, 05/15/19(c)

    1,925,000         2,059,750   
    

 

 

 
       33,908,352   
    

 

 

 

Mining 0.0%(i)

  

Inmet Mining Corp., 8.750%, 06/01/20(c)

    1,170,000         1,298,700   
    

 

 

 

Miscellaneous Manufacturer 0.3%

  

Bombardier, Inc., 4.250%, 01/15/16(c)

    15,000,000         15,562,500   
    

 

 

 

Oil & Gas 0.2%

  

Chesapeake Energy Corp., 3.250%, 03/15/16(b)

    10,000,000         10,112,500   

Offshore Group Investment Ltd., 7.125%, 04/01/23(c)

    800,000         818,000   

Range Resources Corp., 5.000%, 03/15/23(c)

    1,960,000         2,004,100   
    

 

 

 
       12,934,600   
    

 

 

 
 

 

See Notes to Financial Statements.

 

95


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Oil & Gas Services 0.0%(i)

  

Hornbeck Offshore Services, Inc., 5.000%, 03/01/21(c)

    160,000         158,800   
    

 

 

 

Packaging & Containers 0.1%

  

Crown Americas LLC/Crown Americas Capital Corp. IV, 4.500%, 01/15/23(c)

    5,000,000         4,850,000   
    

 

 

 

Real Estate 0.0%(i)

  

CBRE Services, Inc., 5.000%, 03/15/23

    1,935,000         1,956,769   
    

 

 

 

Telecommunication Services 2.6%

  

CenturyLink, Inc., 5.625%, 04/01/20

    1,345,000         1,375,263   

Cricket Communications, Inc., 7.750%, 05/15/16(e)

    3,000,000         3,131,250   

Frontier Communications Corp., 7.625%, 04/15/24(b)

    80,000         82,300   

Intelsat Bermuda Ltd. PIK, 11.500%, 02/04/17(e)

    25,645,017         27,235,008   

Intelsat Jackson Holdings SA, 7.250%, 10/15/20

    3,750,000         4,120,313   

Intelsat Jackson Holdings SA, 7.500%, 04/01/21

    1,250,000         1,390,625   

Intelsat Luxembourg SA, 7.750%, 06/01/21(b)(c)

    2,285,000         2,324,988   

iPCS, Inc., 2.424%, 05/01/13(d)(e)

    10,318,000         10,305,618   

Level 3 Communications, Inc., 11.875%, 02/01/19

    3,000,000         3,517,500   

Level 3 Financing, Inc., 8.125%, 07/01/19

    4,065,000         4,471,500   

Level 3 Financing, Inc., 10.000%, 02/01/18(e)

    3,440,000         3,801,200   

Lynx II Corp., 6.375%, 04/15/23(c)

    1,600,000         1,676,000   

MetroPCS Wireless, Inc., 6.250%, 04/01/21(c)

    6,445,000         6,557,787   

MetroPCS Wireless, Inc., 6.625%, 04/01/23(c)

    5,375,000         5,482,500   

NII International Telecom S.A.R.L., 11.375%, 08/15/19(c)

    2,560,000         2,675,200   

Satmex Escrow SA de CV, 9.500%, 05/15/17

    6,000,000         6,360,000   
     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

Sprint Capital Corp., 6.875%, 11/15/28

    2,000,000         2,045,000   

Sprint Capital Corp., 8.750%, 03/15/32(e)

    1,700,000         2,027,250   

Sprint Nextel Corp., 7.000%, 08/15/20

    5,680,000         6,248,000   

Sprint Nextel Corp., 11.500%, 11/15/21

    2,280,000         3,192,000   

Trilogy International Partners LLC, 10.250%, 08/15/16(c)

    12,958,000         12,698,840   

Wind Acquisition Finance Holdings, PIK, 12.250%, 07/15/17(c)

    24,390,842         24,735,701   

Wind Acquisition Finance SA, 7.250%, 02/15/18(c)

    9,940,000         10,350,025   

Windstream Holding of the Midwest, Inc., 6.750%, 04/01/28(e)

    4,750,000         4,927,797   
    

 

 

 
       150,731,665   
    

 

 

 

Total Corporate Bonds
(Cost $300,277,679)

       309,242,942   
    

 

 

 

Preferred Stock 0.1%

  

Diversified Financial Services 0.1%

  

GMAC Capital Trust I,
Series 2, 8.125%(d)

    94,025         2,557,480   
    

 

 

 

Total Preferred Stock
(Cost $2,350,625)

       2,557,480   
    

 

 

 

Common Stock 0.0%(i)

  

Energy-Alternate Sources 0.0%(i)

  

Aventine Renewable Energy Holdings, Inc.*(f)(g)

    69,037         1,035,555   
    

 

 

 

Total Common Stock
(Cost $8,202,053)

       1,035,555   
    

 

 

 

Money Market Fund 21.8%

  

  

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.01%(l)

    1,290,295,065         1,290,295,065   
    

 

 

 

Total Money Market Fund
(Cost $1,290,295,065)

       1,290,295,065   
    

 

 

 

Total Investments
(Cost $6,680,548,137) — 114.1%

   

     6,752,924,242   

Liabilities in excess of other assets — (14.1)%

       (832,544,501
    

 

 

 

Net Assets — 100.0%

     $ 5,920,379,741   
    

 

 

 
 

 

See Notes to Financial Statements.

 

96


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix Floating Rate High Income Fund — concluded

 

 

* Non-income producing security.

 

(a) The security does not have a stated settlement date and will receive a rate upon settling with the custodian.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 88.1% of net assets as of March 31, 2013.

 

(d) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(e) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(f) Security is in default.

 

(g) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees.
(h) Bankrupt issuer.

 

(i) Less than 0.05% of Net Assets.

 

(j) Valued at fair value using procedures approved by the Board of Trustees. (See Note 2(a))

 

(k) Security is perpetual in nature and has no stated maturity.

 

(l) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

ADS     American Depositary Shares
PIK     Payment in-kind

As of March 31, 2013, the Fund had the following unfunded loan commitment:

 

Borrower    Unfunded
Commitments
     Unrealized
Appreciation
 

Syniverse Holdings

     $22,900,000         $136,999   

The commitments are available until the maturity date of the respective security.

 

 

See Notes to Financial Statements.

 

97


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Bank Loans 5.5%     

Commercial Services 0.3%

    

ABC Supply, Bridge Term Loan, 03/28/14(a)(b)(c)(d)

    665,000         665,000   

Walter Energy, Inc., Term Loan B, 5.750%, 04/02/18(a)(d)

    4,670,176         4,694,834   
    

 

 

 
       5,359,834   
    

 

 

 

Food 0.3%

    

HJ Heinz Co., 2nd Lien Bridge Term Loan, 02/14/14(a)(b)(c)(d)

    4,685,000         4,685,000   
    

 

 

 

Health Care 0.0%(e)

    

Community Health Systems, Inc., Extended Term Loan, 3.784%-3.787%, 01/25/17(a)(d)

    845,273         853,439   
    

 

 

 

Information Technology 0.6%

  

  

CDW LLC, Extended Term Loan, 4.000%, 07/14/17(a)(d)

    10,467,790         10,507,044   
    

 

 

 

Insurance 0.1%

    

Asurion LLC, New Term Loan B1, 4.500%, 05/24/19(a)(d)

    1,376,550         1,390,150   
    

 

 

 

Media 0.9%

    

Charter Communications Operating LLC, Term Loan D, 4.000%, 05/15/19(a)(d)

    4,692,600         4,729,484   

Nielsen Holdings NV, Bridge Term Loan, 02/21/14(a)(b)(c)(d)

    4,915,000         4,915,000   

Tribune Co., Exit Term Loan, 4.000%, 12/31/19(a)(d)

    6,643,350         6,696,497   
    

 

 

 
       16,340,981   
    

 

 

 

Mining 0.1%

    

FMG America Finance, Inc., Term Loan, 5.250%, 10/18/17(a)(d)

    1,114,400         1,127,037   
    

 

 

 

Oil & Gas 0.6%

    

Energy Transfer Equity, L.P., New Term Loan B, 3.750%, 03/24/17(a)(d)

    10,890,000         10,924,086   
    

 

 

 

Packaging & Containers 0.3%

  

Berry Plastics Holding Corp., Term Loan D, 3.500%, 02/04/20(a)(b)(d)

    5,835,000         5,819,070   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Retail 0.2%

    

Toys ‘R’ Us-Delaware, Inc., New Term Loan, 6.000%, 09/01/16(a)(d)

    4,224,169         4,132,631   
    

 

 

 

Semiconductors 0.4%

    

Freescale Semiconductor, Inc., Term Loan B4, 03/02/20(a)(b)(c)(d)

    7,955,000         7,972,422   
    

 

 

 

Telecommunication Services 1.7%

  

  

Alcatel-Lucent USA, Inc., USD Term Loan C, 01/31/19(a)(b)(c)(d)

    2,638,388         2,676,195   

Cequel Communications LLC, Term Loan B, 4.000%, 02/14/19(a)(d)

    11,939,400         12,043,870   

Crown Castle International Corp., Term Loan B, 4.000%, 01/31/19(a)(d)

    5,939,850         6,001,743   

Level 3 Financing, Inc., 2019 Term Loan B, 5.250%, 08/01/19(a)(d)

    6,605,000         6,689,214   

Virgin Media Investment Holdings Ltd., USD Term Loan B, 02/17/20(a)(b)(c)(d)

    5,305,000         5,279,483   
    

 

 

 
       32,690,505   
    

 

 

 

Total Bank Loans
(Cost $100,930,266)

       101,802,199   
    

 

 

 
Corporate Bonds 88.3%     

Advertising 0.4%

    

Affinion Group, Inc., 7.875%, 12/15/18(f)

    5,435,000         4,293,650   

MDC Partners, Inc., 6.750%, 04/01/20(a)

    3,690,000         3,726,900   
    

 

 

 
       8,020,550   
    

 

 

 

Aerospace/Defense 0.6%

    

BE Aerospace, Inc., 5.250%, 04/01/22

    4,915,000         5,068,594   

Ducommun, Inc., 9.750%, 07/15/18

    3,230,000         3,553,000   

GenCorp, Inc., 7.125%, 03/15/21(a)

    3,140,000         3,312,700   
    

 

 

 
       11,934,294   
    

 

 

 

Airlines 0.8%

    

Air Canada, Inc., 9.250%, 08/01/15(a)(f)

    11,740,000         12,503,100   
 

 

See Notes to Financial Statements.

 

98


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Airlines—continued

    

Continental Airlines Pass Thru Certificate, Series 2012-B, C1 B, 6.250%, 04/11/20, Series B

    1,960,000         2,058,000   
    

 

 

 
       14,561,100   
    

 

 

 

Apparel 0.3%

    

Wolverine World Wide, Inc., 6.125%, 10/15/20(a)

    4,730,000         5,019,713   
    

 

 

 

Auto Parts & Equipment 1.2%

  

AFFINIA Group, Inc., 10.750%, 08/15/16(a)

    1,648,000         1,788,080   

Cooper-Standard Automotive, Inc., 8.500%, 05/01/18

    8,893,000         9,693,370   

Delphi Corp., 5.000%, 02/15/23

    4,475,000         4,732,312   

Lear Corp., 4.750%, 01/15/23(a)

    6,540,000         6,376,500   
    

 

 

 
       22,590,262   
    

 

 

 

Banks 3.6%

    

Ally Financial, Inc., 7.500%, 09/15/20(g)

    13,841,000         16,886,020   

Ally Financial, Inc., 8.000%, 11/01/31

    13,755,000         17,400,075   

CIT Group, Inc., 4.250%, 08/15/17

    7,205,000         7,529,225   

CIT Group, Inc., 5.000%, 05/15/17

    6,425,000         6,890,812   

CIT Group, Inc., 5.250%, 03/15/18

    3,540,000         3,823,200   

CIT Group, Inc., 6.625%, 04/01/18(a)

    6,630,000         7,558,200   

Provident Funding Associates LP/PFG Finance Corp., 10.125%, 02/15/19(a)

    2,685,000         2,926,650   

Provident Funding Association LP, 10.250%, 04/15/17(a)(f)

    3,455,000         3,852,325   
    

 

 

 
       66,866,507   
    

 

 

 

Beverages 0.1%

    

Cott Beverages, Inc., 8.125%, 09/01/18

    1,500,000         1,638,750   
    

 

 

 

Building Materials 2.1%

    

Building Materials Corp. of America, 6.750%, 05/01/21(a)(f)

    2,885,000         3,151,863   
     Shares or
Principal
Amount($)
     Value($)  

Building Materials—continued

  

Cemex Finance LLC, 9.375%, 10/12/22(a)

    3,575,000         4,155,937   

Cemex SAB de CV, 5.875%, 03/25/19(a)

    2,775,000         2,802,750   

Gibraltar Industries, Inc., 6.250%, 02/01/21(a)

    3,180,000         3,370,800   

Masco Corp., 5.950%, 03/15/22

    5,540,000         6,231,575   

USG Corp., 8.375%, 10/15/18(a)

    11,650,000         12,873,250   

USG Corp., 9.750%, 08/01/14(a)

    5,845,000         6,341,825   
    

 

 

 
       38,928,000   
    

 

 

 

Chemicals 1.3%

    

Huntsman International LLC, 8.625%, 03/15/21

    1,055,000         1,186,875   

Ineos Finance PLC, 7.500%, 05/01/20(a)

    4,100,000         4,463,875   

Ineos Finance PLC, 9.000%, 05/15/15(a)

    1,775,000         1,868,188   

Kinove German Bondco GmbH, 9.625%, 06/15/18(a)

    3,647,000         4,057,287   

LyondellBasell Industries, 6.000%, 11/15/21

    2,025,000         2,399,625   

Nova Chemicals Corp., 8.625%, 11/01/19

    2,845,000         3,200,625   

Nufarm Australia Ltd., 6.375%, 10/15/19(a)

    2,000,000         2,050,000   

Oxea Finance & Cy SCA, 9.500%, 07/15/17(a)

    2,405,000         2,609,425   

PetroLogistics LP/PetroLogistics Finance Corp., 6.250%, 04/01/20(a)

    3,218,000         3,238,112   
    

 

 

 
       25,074,012   
    

 

 

 

Coal 0.5%

  

Peabody Energy Corp., 6.250%, 11/15/21

    6,780,000         7,051,200   

Walter Energy, Inc., 8.500%, 04/15/21(a)

    2,315,000         2,372,875   
    

 

 

 
       9,424,075   
    

 

 

 

Commercial Services 4.1%

  

Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.250%, 01/15/19

    4,945,000         5,482,769   

Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 9.625%, 03/15/18

    3,855,000         4,351,370   
 

 

See Notes to Financial Statements.

 

99


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Commercial Services—continued

  

FTI Consulting, Inc., 6.000%, 11/15/22(a)

    3,750,000         3,965,625   

Harland Clarke Holdings Corp., 9.750%, 08/01/18(a)

    12,180,000         12,910,800   

Iron Mountain, Inc., 7.750%, 10/01/19

    4,135,000         4,595,019   

Iron Mountain, Inc., 8.000%, 06/15/20

    1,515,000         1,586,963   

Lender Processing Services, Inc., 5.750%, 04/15/23

    3,760,000         3,919,800   

Live Nation Entertainment, Inc., 7.000%, 09/01/20(a)

    2,475,000         2,660,625   

Live Nation Entertainment, Inc., 8.125%, 05/15/18(a)

    3,465,000         3,768,187   

National Money Mart Co., 10.375%, 12/15/16(f)

    2,720,000         2,998,800   

Prospect Medical Holdings, Inc., 8.375%, 05/01/19(a)

    8,375,000         8,919,375   

ServiceMaster Co., 8.000%, 02/15/20(g)

    11,365,000         12,188,962   

United Rentals North America, Inc., 7.625%, 04/15/22

    9,110,000         10,180,425   
    

 

 

 
       77,528,720   
    

 

 

 

Computers 1.4%

  

Brocade Communications Systems, Inc., 4.625%, 01/15/23(a)

    3,855,000         3,729,713   

j2 Global, Inc., 8.000%, 08/01/20

    5,565,000         5,926,725   

NCR Corp., 4.625%, 02/15/21(a)

    7,000,000         6,965,000   

NCR Corp., 5.000%, 07/15/22(a)

    5,095,000         5,107,737   

Seagate HDD Cayman, 6.875%, 05/01/20

    1,610,000         1,730,750   

Seagate HDD Cayman, 7.750%, 12/15/18(f)

    1,320,000         1,447,050   

Seagate Technology International Co. Ltd., 10.000%, 05/01/14(a)

    532,000         562,590   

SunGard Data Systems, Inc., 7.625%, 11/15/20

    1,540,000         1,668,975   
    

 

 

 
       27,138,540   
    

 

 

 

Diversified Financial Services 4.5%

  

Aircastle Ltd., 6.750%, 04/15/17

    9,270,000         10,197,000   

Aircastle Ltd., 7.625%, 04/15/20

    9,545,000         11,048,337   
     Shares or
Principal
Amount($)
     Value($)  

Diversified Financial Services—continued

  

CNG Holdings, Inc., 9.375%, 05/15/20(a)

    5,565,000         5,460,656   

Community Choice Financial, Inc., 10.750%, 05/01/19

    3,970,000         3,761,575   

General Motors Financial Co., Inc., 6.750%, 06/01/18

    1,185,000         1,342,013   

Icahn Enterprises Finance Corp., 8.000%, 01/15/18

    4,320,000         4,622,400   

ILFC E-Capital Trust I, 4.680%, 12/21/65(a)(d)(f)

    12,420,000         10,867,500   

ILFC E-Capital Trust II, 6.250%, 12/21/65(a)(d)

    2,490,000         2,346,825   

International Lease Finance Corp., 5.650%, 06/01/14, MTN

    1,320,000         1,377,750   

International Lease Finance Corp., 6.250%, 05/15/19

    945,000         1,034,775   

Jefferies Finance LLC/JFIN Co-Issuer Corp., 7.375%, 04/01/20(a)

    5,270,000         5,362,225   

Nationstar Mortgage LLC/Nationstar Capital Corp., 6.500%, 07/01/21(a)

    4,000,000         4,170,000   

Nationstar Mortgage LLC/Nationstar Capital Corp., 7.875%, 10/01/20(a)

    4,860,000         5,370,300   

Nationstar Mortgage LLC/Nationstar Capital Corp., 9.625%, 05/01/19(a)

    2,965,000         3,394,925   

Nationstar Mortgage LLC/Nationstar Capital Corp., 9.625%, 05/01/19(a)

    2,950,000         3,363,000   

Oxford Finance LLC/Oxford Finance Co-Issuer, Inc., 7.250%, 01/15/18(a)

    3,850,000         3,994,375   

SquareTwo Financial Corp., 11.625%, 04/01/17(f)

    5,570,000         5,667,475   
    

 

 

 
       83,381,131   
    

 

 

 

Electric 3.2%

  

AES Corp. (The), 7.750%, 10/15/15

    485,000         545,019   

AES Corp. (The), 8.000%, 10/15/17

    4,225,000         4,969,656   

AES Corp. (The), 9.750%, 04/15/16

    2,750,000         3,279,375   

Calpine Corp., 7.500%, 02/15/21(a)

    4,140,000         4,543,650   
 

 

See Notes to Financial Statements.

 

100


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Electric—continued

  

Calpine Corp., 7.875%, 01/15/23(a)

    5,679,000         6,303,690   

Energy Future Intermediate Holding Co. LLC/EFIH Finance, Inc., 10.000%, 12/01/20(a)

    5,170,000         5,816,250   

GenOn Energy, Inc., 9.500%, 10/15/18

    490,000         576,975   

GenOn Energy, Inc., 9.875%, 10/15/20

    11,324,000         12,965,980   

NRG Energy, Inc., 7.625%, 05/15/19

    10,180,000         10,994,400   

NRG Energy, Inc., 7.875%, 05/15/21

    4,955,000         5,512,437   

PPL Energy Supply LLC, 4.600%, 12/15/21

    3,876,000         4,130,607   
    

 

 

 
       59,638,039   
    

 

 

 

Electrical Components & Equipment 0.5%

  

General Cable Corp., 5.750%, 10/01/22(a)

    4,605,000         4,697,100   

GrafTech International Ltd., 6.375%, 11/15/20(a)

    3,750,000         3,881,250   
    

 

 

 
       8,578,350   
    

 

 

 

Electronics 1.0%

  

313 Group, Inc., 6.375%, 12/01/19(a)

    9,720,000         9,647,100   

Flextronics International Ltd., 4.625%, 02/15/20(a)

    2,000,000         2,020,000   

Flextronics International Ltd., 5.000%, 02/15/23(a)

    3,165,000         3,157,087   

Jabil Circuit, Inc., 8.250%, 03/15/18

    3,460,000         4,160,650   
    

 

 

 
       18,984,837   
    

 

 

 

Energy-Alternate Sources 0.3%

  

First Wind Capital LLC, 10.250%, 06/01/18(a)

    5,075,000         5,392,188   
    

 

 

 

Engineering & Construction 0.5%

  

Aguila 3 SA, 7.875%, 01/31/18(a)

    4,275,000         4,584,937   

Dycom Investments, Inc., 7.125%, 01/15/21

    2,570,000         2,749,900   

Weekley Homes LLC/Weekley Finance Corp., 6.000%, 02/01/23(a)

    2,775,000         2,858,250   
    

 

 

 
       10,193,087   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Entertainment 1.9%

  

Carmike Cinemas, Inc., 7.375%, 05/15/19

    2,960,000         3,248,600   

Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp., 5.250%, 03/15/21(a)

    3,895,000         3,870,656   

Cinemark USA, Inc., 5.125%, 12/15/22(a)

    1,950,000         1,959,750   

Diamond Resorts Corp., 12.000%, 08/15/18(g)

    16,349,000         18,065,645   

Pinnacle Entertainment, Inc., 7.750%, 04/01/22(f)

    2,130,000         2,287,088   

Pinnacle Entertainment, Inc., 8.750%, 05/15/20(f)

    3,780,000         4,153,275   

Speedway Motorsports, Inc., 8.750%, 06/01/16

    2,395,000         2,526,725   
    

 

 

 
       36,111,739   
    

 

 

 

Environmental Control 0.9%

  

Clean Harbors, Inc., 5.125%, 06/01/21(a)

    2,595,000         2,656,631   

Clean Harbors, Inc., 5.250%, 08/01/20

    3,120,000         3,221,400   

Covanta Holding Corp., 7.250%, 12/01/20

    2,805,000         3,089,590   

Darling International, Inc., 8.500%, 12/15/18

    2,330,000         2,644,550   

Heckmann Corp., 9.875%, 04/15/18(a)

    4,130,000         4,382,962   
    

 

 

 
       15,995,133   
    

 

 

 

Food 2.3%

  

Hawk Acquisition Sub, Inc., 4.250%, 10/15/20(a)(b)

    30,810,000         30,848,513   

Post Holdings, Inc., 7.375%, 02/15/22

    6,135,000         6,710,156   

Stater Brothers Holdings, Inc., 7.750%, 04/15/15(g)

    4,790,000         4,790,000   
    

 

 

 
       42,348,669   
    

 

 

 

Forest Products & Paper 0.2%

  

Longview Fibre Paper & Packaging, Inc., 8.000%, 06/01/16(a)(f)

    3,575,000         3,744,813   
    

 

 

 

Gas 0.5%

  

Sabine Pass LNG LP, 6.500%, 11/01/20(a)

    5,775,000         6,078,188   

Sabine Pass LNG LP, 7.500%, 11/30/16

    2,385,000         2,635,425   
    

 

 

 
       8,713,613   
    

 

 

 
 

 

See Notes to Financial Statements.

 

101


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Healthcare-Products 0.9%

  

Biomet, Inc., 6.500%, 08/01/20(a)

    6,295,000         6,680,569   

Kinetic Concepts, Inc./KCI USA, Inc., 10.500%, 11/01/18

    6,700,000         7,252,750   

Physio-Control International, Inc., 9.875%, 01/15/19(a)

    3,250,000         3,664,375   
    

 

 

 
       17,597,694   
    

 

 

 

Healthcare-Services 2.9%

  

CHS/Community Health Systems, Inc., 5.125%, 08/15/18

    4,755,000         4,980,863   

CHS/Community Health Systems, Inc., 7.125%, 07/15/20(f)

    5,000,000         5,425,000   

CHS/Community Health Systems, Inc., 8.000%, 11/15/19

    695,000         769,713   

DaVita, Inc., 5.750%, 08/15/22

    5,450,000         5,661,187   

Fresenius Medical Care US Finance II, Inc., 5.875%, 01/31/22(a)(g)

    3,115,000         3,477,119   

HCA, Inc., 5.875%, 03/15/22

    9,585,000         10,327,837   

HCA, Inc., 6.250%, 02/15/21

    2,740,000         2,921,525   

HCA, Inc., 7.500%, 02/15/22(f)

    7,215,000         8,297,250   

Tenet Healthcare Corp., 6.250%, 11/01/18(f)

    6,920,000         7,681,200   

Vanguard Health Holding Co. II LLC/Vanguard Holding Co. II, Inc., 7.750%, 02/01/19(f)

    5,000,000         5,350,000   
    

 

 

 
       54,891,694   
    

 

 

 

Holding Companies-Diversified 0.3%

  

MMI International Ltd., 8.000%, 03/01/17(a)

    5,445,000         5,581,125   
    

 

 

 

Home Builders 0.9%

  

Brookfield Residential Properties, Inc., 6.500%, 12/15/20(a)

    2,665,000         2,851,550   

KB Home, 7.500%, 09/15/22

    2,775,000         3,114,937   

KB Home, 9.100%, 09/15/17

    3,180,000         3,736,500   

Standard Pacific Corp., 8.375%, 05/15/18(g)

    5,300,000         6,240,750   
    

 

 

 
       15,943,737   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Household Products/Wares 0.9%

  

Jarden Corp., 7.500%, 01/15/20

    4,450,000         4,844,938   

Reynolds Group Holdings, 6.875%, 02/15/21

    1,825,000         1,943,625   

Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Luxembourg I SA, 7.875%, 08/15/19

    7,845,000         8,649,112   

Spectrum Brands Escrow Corp., 6.625%, 11/15/22(a)

    1,900,000         2,061,500   
    

 

 

 
       17,499,175   
    

 

 

 

Housewares 0.3%

  

Libbey Glass, Inc., 6.875%, 05/15/20

    4,525,000         4,881,344   
    

 

 

 

Insurance 1.3%

  

Assured Guaranty Municipal Holdings, Inc., 6.400%, 12/15/66(a)(d)

    4,350,000         3,936,750   

Assured Guaranty US Holdings, Inc., Series A, 6.400%, 12/15/66(d)

    7,037,000         6,579,595   

Genworth Financial, Inc., 6.150%, 11/15/66(d)

    4,605,000         4,213,575   

Genworth Financial, Inc., 7.625%, 09/24/21(f)

    745,000         897,326   

Liberty Mutual Group, Inc., 7.000%, 03/07/67(a)(d)

    2,730,000         2,811,900   

White Mountains Re Group Ltd., 7.506%(a)(d)(h)

    5,270,000         5,577,821   
    

 

 

 
       24,016,967   
    

 

 

 

Internet 1.3%

  

CyrusOne LP/CyrusOne Finance Corp., 6.375%, 11/15/22(a)

    2,045,000         2,142,138   

Equinix, Inc., 4.875%, 04/01/20

    3,320,000         3,344,900   

Equinix, Inc., 5.375%, 04/01/23

    1,500,000         1,518,750   

Equinix, Inc., 7.000%, 07/15/21(f)

    3,130,000         3,474,300   

Mood Media Corp., 9.250%, 10/15/20(a)

    5,775,000         6,309,187   

Zayo Escrow Corp., 8.125%, 01/01/20

    7,000,000         7,840,000   
    

 

 

 
       24,629,275   
    

 

 

 
 

 

See Notes to Financial Statements.

 

102


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Iron/Steel 0.4%

  

JMC Steel Group, 8.250%, 03/15/18(a)

    6,855,000         7,266,300   
    

 

 

 

Leisure Time 0.5%

  

ClubCorp Club Operations, Inc., 10.000%, 12/01/18

    4,545,000         5,135,850   

Viking Cruises Ltd., 8.500%, 10/15/22(a)

    4,015,000         4,416,500   
    

 

 

 
       9,552,350   
    

 

 

 

Lodging 1.2%

  

Chester Downs & Marina LLC, 9.250%, 02/01/20(a)(f)

    2,195,000         2,096,225   

Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.500%, 07/01/19(a)

    7,090,000         7,869,900   

Harrahs Operating, Inc., 11.250%, 06/01/17

    3,275,000         3,483,781   

MGM Resorts International, 6.750%, 10/01/20(a)

    4,195,000         4,446,700   

MGM Resorts International, 7.625%, 01/15/17

    4,185,000         4,645,350   
    

 

 

 
       22,541,956   
    

 

 

 

Machinery-Diversified 0.3%

  

Manitowoc Co., Inc. (The), 8.500%, 11/01/20

    4,805,000         5,429,650   
    

 

 

 

Media 5.2%

  

Block Communications, Inc., 7.250%, 02/01/20(a)

    3,260,000         3,545,250   

Cablevision Systems Corp., 7.750%, 04/15/18

    1,180,000         1,323,075   

Cablevision Systems Corp., 8.000%, 04/15/20

    4,490,000         5,051,250   

CCO Holdings LLC/Cap Corp., 5.125%, 02/15/23

    4,170,000         4,044,900   

CCO Holdings LLC/Cap Corp., 7.375%, 06/01/20(f)

    2,000,000         2,217,500   

Clear Channel Worldwide Holdings, Inc., Series A, 6.500%, 11/15/22(a)

    6,395,000         6,666,787   

Clear Channel Worldwide Holdings, Inc., Series B, 6.500%, 11/15/22(a)(g)

    13,255,000         13,984,025   

Clear Channel Worldwide Holdings, Inc., Series B, 7.625%, 03/15/20, Series B

    3,365,000         3,512,219   
     Shares or
Principal
Amount($)
     Value($)  

Media—continued

  

DISH DBS Corp., 5.875%, 07/15/22

    9,585,000         10,052,269   

Echostar DBS Corp., 7.750%, 05/31/15

    3,430,000         3,807,300   

Entravision Communications Corp., 8.750%, 08/01/17

    4,054,000         4,398,590   

LIN Television Corp., 6.375%, 01/15/21(a)

    2,375,000         2,529,375   

McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 9.750%, 04/01/21(a)

    3,390,000         3,356,100   

Mediacom Broadband LLC/Mediacom Broadband Corp., 6.375%, 04/01/23(a)

    7,235,000         7,506,312   

Mediacom LLC/Capital Corp., 9.125%, 08/15/19(f)

    1,145,000         1,278,106   

Sinclair Television Group, Inc., 9.250%, 11/01/17(a)

    2,690,000         2,915,288   

Sirius XM Radio, Inc., 5.250%, 08/15/22(a)(f)

    3,870,000         3,957,075   

Sirius XM Radio, Inc., 7.625%, 11/01/18(a)

    2,910,000         3,211,913   

Univision Communications, Inc., 6.750%, 09/15/22(a)

    8,720,000         9,417,600   

Videotron Ltd., 5.000%, 07/15/22

    4,000,000         4,060,000   
    

 

 

 
       96,834,934   
    

 

 

 

Mining 3.2%

  

FMG Resources August 2006 Pty Ltd., 8.250%, 11/01/19(a)(f)

    18,045,000         19,466,044   

HudBay Minerals, Inc., 9.500%, 10/01/20

    4,155,000         4,539,337   

Inmet Mining Corp., 7.500%, 06/01/21(a)

    3,305,000         3,577,663   

Inmet Mining Corp., 8.750%, 06/01/20(a)

    18,450,000         20,479,500   

New Gold, Inc., 6.250%, 11/15/22(a)

    3,055,000         3,200,113   

Novelis, Inc., 8.375%, 12/15/17

    785,000         859,575   

Novelis, Inc., 8.750%, 12/15/20

    2,900,000         3,269,750   

Vulcan Materials Co., 7.500%, 06/15/21

    3,345,000         3,938,737   
    

 

 

 
       59,330,719   
    

 

 

 
 

 

See Notes to Financial Statements.

 

103


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Miscellaneous Manufacturer 1.7%

  

Amsted Industries, Inc., 8.125%, 03/15/18(a)

    3,935,000         4,230,125   

Bombardier, Inc., 5.750%, 03/15/22(a)

    9,890,000         10,149,612   

Bombardier, Inc., 6.125%, 01/15/23(a)(g)

    10,620,000         11,018,250   

Bombardier, Inc., 7.750%, 03/15/20(a)

    1,180,000         1,357,000   

Polymer Group, Inc., 7.750%, 02/01/19

    5,260,000         5,733,400   
    

 

 

 
       32,488,387   
    

 

 

 

Oil & Gas 8.0%

  

Antero Resources Finance Corp., 6.000%, 12/01/20(a)

    3,295,000         3,443,275   

Chesapeake Energy Corp., 6.875%, 11/15/20

    2,060,000         2,245,400   

Chesapeake Energy Corp., 7.250%, 12/15/18

    3,105,000         3,524,175   

CITGO Petroleum Corp., 11.500%, 07/01/17(a)

    2,910,000         3,335,588   

EP Energy LLC/Everest Acquisition Finance, Inc., 6.875%, 05/01/19

    3,000,000         3,285,000   

EP Energy LLC/Everest Acquisition Finance, Inc., 7.750%, 09/01/22(f)

    1,635,000         1,806,675   

Hercules Offshore, Inc., 7.125%, 04/01/17(a)

    5,075,000         5,468,312   

Linn Energy LLC/Finance Corp., 6.500%, 05/15/19

    4,450,000         4,655,813   

Linn Energy LLC/Finance Corp., 8.625%, 04/15/20

    4,865,000         5,363,662   

MEG Energy Corp., 6.375%, 01/30/23(a)

    7,000,000         7,280,000   

Oasis Petroleum, Inc., 6.875%, 01/15/23

    5,165,000         5,681,500   

Offshore Group Investment Ltd., 7.125%, 04/01/23(a)

    5,785,000         5,915,162   

Offshore Group Investment Ltd., 7.500%, 11/01/19(a)(f)

    9,315,000         9,873,900   

Plains Exploration & Production Co., 6.125%, 06/15/19

    6,630,000         7,259,850   

Plains Exploration & Production Co., 6.625%, 05/01/21

    8,685,000         9,553,500   

Plains Exploration & Production Co., 6.875%, 02/15/23

    15,650,000         17,723,625   
     Shares or
Principal
Amount($)
     Value($)  

Oil & Gas—continued

  

Plains Exploration & Production Co., 7.625%, 06/01/18

    2,510,000         2,622,950   

Plains Exploration & Production Co., 8.625%, 10/15/19

    2,095,000         2,377,825   

Range Resources Corp., 5.000%, 08/15/22

    2,880,000         2,937,600   

Range Resources Corp., 5.000%, 03/15/23(a)

    6,570,000         6,717,825   

Range Resources Corp., 7.250%, 05/01/18

    2,130,000         2,215,200   

RDS Ultra-Deepwater Ltd., 11.875%, 03/15/17(a)

    2,000,000         2,225,000   

SandRidge Energy, Inc., 7.500%, 03/15/21

    10,170,000         10,576,800   

SandRidge Energy, Inc., 8.750%, 01/15/20

    1,855,000         1,998,763   

Seadrill Ltd., 5.625%, 09/15/17(a)

    2,675,000         2,701,750   

United Refining Co., 10.500%, 02/28/18

    8,670,000         9,797,100   

WPX Energy, Inc., 6.000%, 01/15/22

    7,735,000         8,102,412   
    

 

 

 
       148,688,662   
    

 

 

 

Oil & Gas Services 2.1%

  

American Petroleum Tankers LLC, 10.250%, 05/01/15

    3,571,000         3,687,058   

Cie Generale de Geophysique - Veritas, 6.500%, 06/01/21

    6,000,000         6,300,000   

Exterran Partners LP/EXLP Finance Corp., 6.000%, 04/01/21(a)

    3,741,000         3,726,971   

Hiland Partners LP/Hiland Partners Finance Corp., 7.250%, 10/01/20(a)

    3,190,000         3,485,075   

Hornbeck Offshore Services, Inc., 5.000%, 03/01/21(a)

    3,935,000         3,905,487   

Oil States International, Inc., 5.125%, 01/15/23(a)

    5,520,000         5,520,000   

Oil States International, Inc., 6.500%, 06/01/19

    11,185,000         11,967,950   
    

 

 

 
       38,592,541   
    

 

 

 

Packaging & Containers 2.5%

  

Ball Corp., 5.000%, 03/15/22

    13,210,000         13,738,400   
 

 

See Notes to Financial Statements.

 

104


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Packaging & Containers—continued

  

Crown Americas LLC/Crown Americas Capital Corp. IV, 4.500%, 01/15/23(a)

    8,815,000         8,550,550   

Graphic Packaging International, Inc., 9.500%, 06/15/17

    2,175,000         2,310,937   

Plastipak Holdings, Inc., 10.625%, 08/15/19(a)

    2,010,000         2,301,450   

Sealed Air Corp., 5.250%, 04/01/23(a)

    4,585,000         4,602,194   

Sealed Air Corp., 6.500%, 12/01/20(a)(f)

    3,025,000         3,312,375   

Sealed Air Corp., 8.125%, 09/15/19(a)

    5,095,000         5,763,719   

Sealed Air Corp., 8.375%, 09/15/21(a)

    5,060,000         5,793,700   
    

 

 

 
       46,373,325   
    

 

 

 

Pharmaceuticals 1.1%

  

ConvaTec Healthcare, 10.500%, 12/15/18(a)

    2,850,000         3,170,625   

Endo Pharmaceuticals Holdings, Inc., 7.000%, 07/15/19

    3,195,000         3,414,656   

Endo Pharmaceuticals Holdings, Inc., 7.000%, 12/15/20

    2,610,000         2,786,175   

Endo Pharmaceuticals Holdings, Inc., 7.250%, 01/15/22

    2,460,000         2,644,500   

Valeant Pharmaceuticals International, 6.500%, 07/15/16(a)

    4,000,000         4,175,000   

Valeant Pharmaceuticals International, 7.000%, 10/01/20(a)

    3,900,000         4,202,250   
    

 

 

 
       20,393,206   
    

 

 

 

Pipelines 1.8%

  

Access Midstream Partners LP/ACMP Finance Corp., 4.875%, 05/15/23

    4,420,000         4,364,750   

Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp., 5.875%, 08/01/23(a)

    2,495,000         2,482,525   

Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp., 6.625%, 10/01/20(a)

    1,115,000         1,162,387   
     Shares or
Principal
Amount($)
     Value($)  

Pipelines—continued

  

Eagle Rock Energy Partners LP/Eagle Rock Energy Finance Corp., 8.375%, 06/01/19

    3,495,000         3,687,225   

El Paso Corp., 6.500%, 09/15/20

    6,885,000         7,606,569   

Sabine Pass Liquefaction LLC, 5.625%, 02/01/21(a)

    14,040,000         14,566,500   
    

 

 

 
       33,869,956   
    

 

 

 

Real Estate 0.8%

    

CBRE Services, Inc., 5.000%, 03/15/23

    12,255,000         12,392,869   

Toys “R” Us Property Co. LLC, 10.750%, 07/15/17

    3,280,000         3,530,100   
    

 

 

 
       15,922,969   
    

 

 

 

Real Estate Investment Trust 1.4%

  

Felcor Lodging LP, 5.625%, 03/01/23(a)

    5,485,000         5,587,844   

Host Hotels & Resorts LP, 3.750%, 10/15/23, Series D

    1,735,000         1,741,784   

MPT Operating Partnership LP/MPT Finance Corp., 6.875%, 05/01/21

    4,000,000         4,340,000   

Reckson Operating Partnership LP, 7.750%, 03/15/20

    6,005,000         7,372,104   

Rouse Co. LP (The), 6.750%, 11/09/15

    7,120,000         7,378,100   
    

 

 

 
       26,419,832   
    

 

 

 

Retail 3.6%

    

AutoNation, Inc., 5.500%, 02/01/20

    4,636,000         5,030,060   

Claire’s Stores, Inc., 9.000%, 03/15/19(a)(f)

    4,200,000         4,746,000   

Coinstar, Inc., 6.000%, 03/15/19(a)

    3,355,000         3,430,488   

Dufry Finance SCA, 5.500%, 10/15/20(a)

    2,175,000         2,256,636   

JC Penney Corp., Inc., 6.375%, 10/15/36

    4,135,000         3,101,250   

Limited Brands, Inc., 5.625%, 02/15/22

    7,220,000         7,653,200   

Limited Brands, Inc., 6.625%, 04/01/21

    2,900,000         3,277,000   

Limited Brands, Inc., 7.000%, 05/01/20

    2,520,000         2,923,200   

Penske Automotive Group, Inc., 5.750%, 10/01/22(a)

    3,830,000         3,992,775   
 

 

See Notes to Financial Statements.

 

105


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Retail—continued

    

Phillips-Van Heusen Corp., 7.375%, 05/15/20

    2,005,000         2,235,575   

PVH Corp., 4.500%, 12/15/22

    2,630,000         2,590,550   

Rite Aid Corp., 7.500%, 03/01/17

    4,000,000         4,115,000   

Sally Holdings LLC/Sally Capital, Inc., 6.875%, 11/15/19

    4,675,000         5,177,562   

Sears Holdings Corp., 6.625%, 10/15/18(f)

    13,335,000         12,984,956   

Toys R Us, Inc., 7.375%, 10/15/18

    3,010,000         2,656,325   

Toys R Us, Inc., 10.375%, 08/15/17

    410,000         415,638   
    

 

 

 
       66,586,215   
    

 

 

 

Semiconductors 0.5%

    

Advanced Micro Devices, Inc., 7.500%, 08/15/22(a)

    1,580,000         1,433,850   

Advanced Micro Devices, Inc., 7.750%, 08/01/20

    1,650,000         1,518,000   

Freescale Semiconductor, Inc., 9.250%, 04/15/18(a)

    1,335,000         1,465,163   

NXP BV/NXP Funding LLC, 5.750%, 03/15/23(a)

    4,950,000         5,049,000   
    

 

 

 
       9,466,013   
    

 

 

 

Shipbuilding 0.3%

    

Huntington Ingalls Industries, Inc., 7.125%, 03/15/21

    5,085,000         5,529,938   
    

 

 

 

Software 0.3%

    

First Data Corp., 6.750%, 11/01/20(a)

    6,215,000         6,479,138   
    

 

 

 

Storage/Warehousing 0.7%

    

Niska Gas Storage US LLC/Niska Gas Storage Canada ULC, 8.875%, 03/15/18

    12,604,000         13,139,670   
    

 

 

 

Telecommunication Services 10.1%

  

CenturyLink, Inc., 5.625%, 04/01/20

    5,075,000         5,189,188   

Consolidated Communications Finance Co., 10.875%, 06/01/20(a)

    2,190,000         2,496,600   

Cricket Communications, Inc., 7.750%, 05/15/16

    1,535,000         1,602,156   

Frontier Communications Corp., 7.625%, 04/15/24(b)

    600,000         617,250   
     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

Hughes Satellite Systems Corp., 6.500%, 06/15/19

    2,735,000         3,001,663   

Hughes Satellite Systems Corp., 7.625%, 06/15/21

    1,270,000         1,452,563   

Intelsat Jackson Holdings SA, 7.250%, 04/01/19

    4,000,000         4,370,000   

Intelsat Jackson Holdings SA, 7.250%, 10/15/20

    5,000,000         5,493,750   

Intelsat Jackson Holdings SA, 7.500%, 04/01/21

    4,340,000         4,828,250   

Intelsat Jackson Holdings SA, 8.500%, 11/01/19

    850,000         953,063   

Level 3 Financing, Inc., 8.125%, 07/01/19

    2,010,000         2,211,000   

Level 3 Financing, Inc., 8.625%, 07/15/20

    4,065,000         4,532,475   

Lynx II Corp., 6.375%, 04/15/23(a)

    5,125,000         5,368,437   

MetroPCS Wireless, Inc., 6.250%, 04/01/21(a)

    7,680,000         7,814,400   

MetroPCS Wireless, Inc., 6.625%, 04/01/23(a)

    6,380,000         6,507,600   

NII Capital Corp., 7.625%, 04/01/21(g)

    8,338,000         6,003,360   

NII Capital Corp., 8.875%, 12/15/19(f)

    3,825,000         2,878,313   

NII International Telecom S.A.R.L., 11.375%, 08/15/19(a)

    6,700,000         7,001,500   

Sable International Finance Ltd., 8.750%, 02/01/20(a)(f)

    3,515,000         3,971,950   

Satmex Escrow SA de CV, 9.500%, 05/15/17

    2,075,000         2,199,500   

SBA Telecommunications, Inc., 5.750%, 07/15/20(a)

    7,125,000         7,410,000   

Sprint Capital Corp., 6.875%, 11/15/28(g)

    11,095,000         11,344,637   

Sprint Capital Corp., 6.900%, 05/01/19(g)

    4,168,000         4,574,380   

Sprint Capital Corp., 8.750%, 03/15/32(g)

    8,005,000         9,545,962   

Sprint Nextel Corp., 6.000%, 12/01/16(g)

    6,000,000         6,510,000   

Sprint Nextel Corp., 7.000%, 08/15/20(g)

    9,310,000         10,241,000   

Sprint Nextel Corp., 8.375%, 08/15/17(g)

    4,000,000         4,655,000   

Sprint Nextel Corp., 11.500%, 11/15/21

    65,000         91,000   
 

 

See Notes to Financial Statements.

 

106


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Seix High Yield Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

Tw telecom holdings, Inc., 5.375%, 10/01/22

    3,855,000         4,018,838   

UPCB Finance V Ltd., 7.250%, 11/15/21(a)

    2,100,000         2,320,500   

US West Capital Funding, Inc.,
6.875%, 07/15/28

    5,940,000         5,725,744   

US West Communications, 7.250%, 10/15/35

    5,485,000         5,624,752   

ViaSat, Inc., 6.875%, 06/15/20

    9,260,000         9,931,350   

West Corp., 8.625%, 10/01/18

    2,690,000         2,918,650   

Wind Acquisition Finance Holdings, PIK, 12.250%, 07/15/17(a)(f)

    8,532,556         8,653,197   

Wind Acquisition Finance SA, 7.250%, 02/15/18(a)

    10,405,000         10,834,206   

Windstream Corp., 6.375%, 08/01/23(a)

    5,100,000         5,061,750   
    

 

 

 
       187,953,984   
    

 

 

 

Transportation 1.3%

  

Bristow Group, Inc., 6.250%, 10/15/22

    3,325,000         3,591,000   

CHC Helicopter SA, 9.250%, 10/15/20

    16,450,000         17,488,406   

Martin Midstream Partners LP/Martin Midstream Finance Corp., 7.250%, 02/15/21(a)

    3,965,000         4,004,650   
    

 

 

 
       25,084,056   
    

 

 

 

Trucking & Leasing 0.3%

  

Aviation Capital Group Corp., 4.625%, 01/31/18(a)

    4,845,000         4,998,485   
    

 

 

 

Total Corporate Bonds
(Cost $1,532,436,891)

       1,649,789,419   
    

 

 

 

Convertible Preferred Stock 0.6%

  

  

Auto Manufacturers 0.6%

  

General Motors Co., Series B, 4.750%, 12/01/13

    256,940         11,033,004   
    

 

 

 

Total Convertible Preferred Stock
(Cost $10,925,846)

       11,033,004   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Short-Term Investment 5.3%

  

RidgeWorth Funds Securities Lending Joint Account(i)

    99,836,835         99,836,835   
    

 

 

 

Total Short-Term Investment
(Cost $99,836,835)

       99,836,835   
    

 

 

 

Money Market Fund 7.0%

  

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(j)

    129,824,361         129,824,361   
    

 

 

 

Total Money Market Fund
(Cost $129,824,361)

       129,824,361   
    

 

 

 

Total Investments
(Cost $1,873,954,199) — 106.7%

   

     1,992,285,818   

Liabilities in excess of other assets — (6.7)%

       (124,430,417
    

 

 

 

Net Assets — 100.0%

     $ 1,867,855,401   
    

 

 

 

 

(a) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 44.9% of net assets as of March 31, 2013.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) The security does not have a stated settlement date and will receive a rate upon settling with the custodian.

 

(d) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(e) Less than 0.05% of Net Assets.

 

(f) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $97,487,700.

 

(g) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(h) Security is perpetual in nature and has no stated maturity.

 

(i) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(k)).

 

(j) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

MTN     Medium Term Note
PIK     Payment in-kind
ULC     Unlimited Liability Company
 

 

See Notes to Financial Statements.

 

107


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Short-Term Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Asset-Backed Securities 12.2%   

Automobiles 10.2%

    

Bank of America Auto Trust, Series 2012-1, Cl A3, 0.780%, 06/15/16

    1,000,000         1,003,559   

Ford Credit Auto Owner Trust, Series 2012-A, Cl A3, 0.840%, 08/15/16

    1,525,000         1,531,166   

Harley-Davidson Motorcycle Trust, Series 2011-2, Cl A3, 1.110%, 09/15/16(a)

    1,110,000         1,116,308   

Hyundai Auto Receivables Trust, Series 2011-B, Cl A4, 1.650%, 02/15/17

    1,180,000         1,200,067   

Hyundai Auto Receivables Trust, Series 2011-C, Cl A4, 1.300%, 02/15/18(a)

    2,250,000         2,282,355   

Volkswagen Auto Loan Enhanced Trust, Series 2012-1, Cl A3, 0.850%, 08/22/16

    1,295,000         1,301,154   
    

 

 

 
       8,434,609   
    

 

 

 

Other 2.0%

    

GE Equipment Transportation LLC, Series 2011-1, Cl A3, 1.000%, 10/20/14(a)

    726,571         727,593   

John Deere Owner Trust, Series 2011-A, Cl A3, 1.290%, 01/15/16

    970,108         974,358   
    

 

 

 
       1,701,951   
    

 

 

 

Total Asset-Backed Securities (Cost $10,088,039)

       10,136,560   
    

 

 

 
Collateralized Mortgage Obligations 22.0%   

Agency Collateralized Mortgage Obligations 5.5%

  

Federal National Mortgage Association

    

Series 2009-37, Cl HA, 4.000%, 04/25/19

    1,216,494         1,289,281   

Series 2011-38, Cl AH, 2.750%, 05/25/20(a)

    3,181,338         3,287,888   
    

 

 

 
       4,577,169   
    

 

 

 

Commercial Mortgage Backed Securities 14.9%

  

Banc of America Commercial Mortgage, Inc.

    

Series 2004-1, Cl A4, 4.760%, 11/10/39(a)

    1,264,673         1,292,599   

Series 2005-2, Cl AM, 4.913%, 07/10/43(a)(b)

    1,605,000         1,732,410   
    

 

 

 
       3,025,009   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Commercial Mortgage Backed Securities—continued

  

Citigroup Commercial Mortgage Trust

    

Series 2004-C1, Cl A3, 5.251%, 04/15/40(a)(b)

    370,530         370,327   
    

 

 

 

COMM 2005-C6 Mortgage Trust

    

Series 2005-C6, Cl AJ, 5.209%, 06/10/44(b)

    335,000         358,418   
    

 

 

 

CS First Boston Mortgage Securities Corp.

    

Series 2004-C5, Cl A3, 4.499%, 11/15/37(a)

    1,466,325         1,466,583   

Series 2005-C5, Cl AM, 5.100%, 08/15/38(a)(b)

    1,595,000         1,726,926   
    

 

 

 
       3,193,509   
    

 

 

 

GE Capital Commercial Mortgage Corp.

    

Series 2004-C2, Cl A3, 4.641%, 03/10/40(a)

    160,031         160,878   

Series 2005-C3, Cl A7A, 4.974%, 07/10/45(b)

    835,000         904,278   
    

 

 

 
       1,065,156   
    

 

 

 

JPMorgan Chase Commercial Mortgage Securities

    

Series 2005-LDP1, Cl A2, 4.625%, 03/15/46(a)

    376,925         380,306   
    

 

 

 

JPMorgan Chase Commercial Mortgage Securities Corp.

    

Series 2005-LDP3, Cl A4A, 4.936%, 08/15/42(b)

    1,045,000         1,129,245   
    

 

 

 

LB-UBS Commercial Mortgage Trust

    

Series 2004-C4, Cl A4, 5.513%, 06/15/29(a)(b)

    620,000         650,949   
    

 

 

 

Wachovia Bank Commercial Mortgage Trust

    

Series 2005-C16, Cl A2, 4.380%, 10/15/41(a)

    479,565         479,498   

Series 2005-C20, Cl A7, 5.118%, 07/15/42(b)

    370,000         400,896   

Series 2005-C22, Cl A4, 5.283%, 12/15/44(b)

    1,175,000         1,290,105   
    

 

 

 
       2,170,499   
    

 

 

 
       12,343,418   
    

 

 

 

Whole Loan Collateral Mortgage Obligations 1.6%

  

FDIC Structured Sale Guaranteed Notes

    

Series 2010-L2A, Cl A, 3.000%, 09/30/19(a)(c)

    1,311,651         1,339,523   
    

 

 

 

Total Collateralized Mortgage Obligations
(Cost $17,833,120)

       18,260,110   
    

 

 

 
 

 

See Notes to Financial Statements.

 

108


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Short-Term Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  
Corporate Bonds 49.0%   

Auto Manufacturers 1.5%

  

Daimler Finance North America LLC, 1.250%, 01/11/16(c)

    750,000         752,569   

Kia Motors Corp., 3.625%, 06/14/16(c)

    500,000         528,634   
    

 

 

 
       1,281,203   
    

 

 

 

Banks 14.7%

  

American Express Centurion Bank, 0.875%, 11/13/15

    835,000         834,977   

Bank of America Corp., 3.625%, 03/17/16, MTN

    1,000,000         1,060,786   

Bank of Montreal, 0.800%, 11/06/15, MTN

    640,000         639,082   

Bank of Nova Scotia, 0.792%, 02/10/14(a)

    1,280,000         1,285,458   

BB&T Corp., 2.150%, 03/22/17, MTN(a)

    700,000         720,462   

Branch Banking & Trust Co., 0.600%, 09/13/16(b)

    630,000         622,988   

Capital One Financial Corp., 6.750%, 09/15/17

    345,000         416,809   

Citigroup, Inc., 6.375%, 08/12/14

    655,000         701,945   

Commonwealth Bank of Australia, 1.950%, 03/16/15(a)

    800,000         818,951   

Fifth Third Bank, 0.400%, 05/17/13(a)(b)

    1,405,000         1,404,978   

Goldman Sachs Group, Inc. (The), 2.375%, 01/22/18

    1,150,000         1,165,677   

JPMorgan Chase & Co., 3.150%, 07/05/16

    1,170,000         1,240,533   

Wells Fargo & Co., 3.676%, 06/15/16(a)(c)

    1,195,000         1,292,169   
    

 

 

 
       12,204,815   
    

 

 

 

Beverages 1.6%

    

Anheuser-Busch InBev Worldwide, Inc., 3.625%, 04/15/15(a)

    945,000         1,001,379   

Dr. Pepper Snapple Group, Inc., 2.900%, 01/15/16

    340,000         358,512   
    

 

 

 
       1,359,891   
    

 

 

 

Chemicals 0.6%

    

Dow Chemical Co. (The), 5.900%, 02/15/15

    420,000         459,060   
    

 

 

 

Commercial Services 0.6%

    

ERAC USA Finance LLC, 1.400%, 04/15/16(c)

    335,000         336,950   
     Shares or
Principal
Amount($)
     Value($)  

Commercial Services—continued

  

ERAC USA Finance LLC, 2.250%, 01/10/14(c)

    125,000         126,468   
    

 

 

 
       463,418   
    

 

 

 

Computers 1.0%

    

Hewlett-Packard Co., 1.250%, 09/13/13

    860,000         861,689   
    

 

 

 

Diversified Financial Services 4.9%

  

Caterpillar Financial Services Corp., 4.625%, 06/01/15(a)

    990,000         1,072,098   

General Electric Capital Corp., 1.625%, 04/02/18(d)

    1,250,000         1,244,634   

Morgan Stanley, 4.200%, 11/20/14

    810,000         847,820   

TD AMERITRADE Holding Corp., 4.150%, 12/01/14

    435,000         458,895   

Woodside Finance Ltd., 4.500%, 11/10/14(c)

    395,000         416,885   
    

 

 

 
       4,040,332   
    

 

 

 

Electric 1.8%

    

Constellation Energy Group, Inc., 4.550%, 06/15/15

    340,000         365,453   

Duke Energy Corp., 3.950%, 09/15/14

    395,000         413,217   

NextEra Energy Capital Holdings, Inc., 1.611%, 06/01/14

    405,000         408,806   

Nisource Finance Corp., 5.400%, 07/15/14

    280,000         295,681   
    

 

 

 
       1,483,157   
    

 

 

 

Food 1.4%

    

ConAgra Foods, Inc., 1.900%, 01/25/18

    285,000         287,818   

General Mills, Inc., 5.200%, 03/17/15

    450,000         488,837   

Kraft Foods Group, Inc., 1.625%, 06/04/15

    410,000         416,317   
    

 

 

 
       1,192,972   
    

 

 

 

Healthcare-Services 1.0%

    

UnitedHealth Group, Inc., 0.412%, 08/28/14(b)

    465,000         464,845   

UnitedHealth Group, Inc., 1.875%, 11/15/16

    340,000         351,105   
    

 

 

 
       815,950   
    

 

 

 

Holding Companies-Diversified 0.5%

  

EnCana Holdings Finance Corp., 5.800%, 05/01/14

    395,000         415,508   
    

 

 

 
 

 

See Notes to Financial Statements.

 

109


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Short-Term Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Housewares 0.3%

    

Newell Rubbermaid, Inc., 2.050%, 12/01/17(a)

    210,000         211,163   
    

 

 

 

Insurance 3.8%

    

Berkshire Hathaway, Inc., 1.900%, 01/31/17(a)

    1,005,000         1,036,749   

MetLife, Inc., 6.750%, 06/01/16

    880,000         1,034,516   

Prudential Covered Trust 2012-1, 2.997%, 09/30/15(c)

    1,008,000         1,050,967   
    

 

 

 
       3,122,232   
    

 

 

 

Internet 1.0%

    

Amazon.com, Inc., 0.650%, 11/27/15(a)

    800,000         799,034   
    

 

 

 

Media 2.7%

    

CBS Corp., 4.625%, 05/15/18

    380,000         424,647   

Comcast Corp., 5.900%, 03/15/16

    510,000         583,521   

DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 4.750%, 10/01/14

    500,000         528,927   

Viacom, Inc., 3.500%, 04/01/17(a)

    630,000         673,488   
    

 

 

 
       2,210,583   
    

 

 

 

Mining 1.7%

    

Freeport-McMoRan Copper & Gold, Inc., 2.375%, 03/15/18(c)

    430,000         431,797   

Rio Tinto Alcan, Inc., 5.200%, 01/15/14(a)

    910,000         940,857   
    

 

 

 
       1,372,654   
    

 

 

 

Oil & Gas 1.4%

    

Devon Energy Corp., 1.875%, 05/15/17

    390,000         393,791   

Petrohawk Energy Corp., 7.250%, 08/15/18

    695,000         777,667   
    

 

 

 
       1,171,458   
    

 

 

 

Oil & Gas Services 0.0%(e)

    

National Oilwell Varco, Inc., 1.350%, 12/01/17

    10,000         10,043   
    

 

 

 

Pharmaceuticals 1.4%

    

McKesson Corp., 0.950%, 12/04/15

    305,000         305,835   

McKesson Corp., 6.500%, 02/15/14

    850,000         893,844   
    

 

 

 
       1,199,679   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Pipelines 2.7%

  

Enterprise Products Operating LLC, Series M, 5.650%, 04/01/13

    1,250,000         1,250,000   

Kinder Morgan Energy Partners LP, 5.125%, 11/15/14

    310,000         331,771   

Spectra Energy Capital LLC, 5.500%, 03/01/14

    345,000         359,354   

Williams Partners LP, 3.800%, 02/15/15

    260,000         273,795   
    

 

 

 
       2,214,920   
    

 

 

 

Semiconductors 1.1%

  

Intel Corp., 1.350%, 12/15/17

    895,000         898,047   
    

 

 

 

Telecommunication Services 2.8%

  

AT&T, Inc., 1.400%, 12/01/17

    985,000         978,156   

Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14

    1,260,000         1,309,586   
    

 

 

 
       2,287,742   
    

 

 

 

Transportation 0.5%

  

Burlington Northern Santa Fe LLC, 7.000%, 02/01/14

    420,000         441,991   
    

 

 

 

Total Corporate Bonds (Cost $40,152,053)

       40,517,541   
    

 

 

 
Municipal Bond 3.2%     

New Jersey 3.2%

    

New Jersey Economic Development Authority, RB, BAB, 1.280%, 06/15/13(a)(b)

    2,675,000         2,676,017   
    

 

 

 

Total Municipal Bond (Cost $2,675,000)

       2,676,017   
    

 

 

 

U.S. Government Agency Mortgages 11.5%

  

Federal National Mortgage Association

    

Pool #725877, 5.249%, 09/01/14

    291,145         300,933   

Pool #466598, 2.180%, 11/01/15(a)

    2,055,000         2,126,850   

Pool #462085, 5.315%, 11/01/15

    1,656,084         1,826,152   

Pool #745889, 5.970%, 08/01/16(a)

    4,700,499         5,298,570   
    

 

 

 

Total U.S. Government Agency Mortgages
(Cost $9,033,465)

       9,552,505   
    

 

 

 
 

 

See Notes to Financial Statements.

 

110


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Short-Term Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Money Market Fund 2.3%

  

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.01%(f)

    1,879,549         1,879,549   
    

 

 

 

Total Money Market Fund
(Cost $1,879,549)

       1,879,549   
    

 

 

 

Total Investments
(Cost $81,719,257) — 100.2%

       83,080,669   

Liabilities in excess of other assets — (0.2)%

       (199,715
    

 

 

 

Net Assets — 100.0%

     $ 82,880,954   
    

 

 

 

 

(a) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(b) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(c) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 7.6% of net assets as of March 31, 2013.

 

(d) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(e) Less than 0.05% of Net Assets.

 

(f) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

BAB     Build America Bonds
MTN     Medium Term Note
RB     Revenue Bond
 

 

See Notes to Financial Statements.

 

111


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Short-Term Municipal Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Municipal Bonds 91.2%     

Alabama 0.6%

    

Birmingham, Series A, GO, 0.000%, 03/01/22(a)(b)

    100,000         94,034   
    

 

 

 

California 5.4%

  

  

California State, GO, 5.000%, 02/01/20

    250,000         302,367   

University of California, Series AG, RB, 0.180%, 05/15/14

    500,000         498,220   
    

 

 

 
       800,587   
    

 

 

 

Florida 11.2%

  

  

Martin County Consolidated Utilities System Revenue, RB, 5.000%, 10/01/28, Pre-refunded 10/01/2013 @ 100, AMBAC(c)

    500,000         512,110   

Miami-Dade County Expressway Authority, Series A, RB, 5.000%, 07/01/19(b)

    500,000         597,715   

Miami-Dade County FL Aviation Revenue, Series B, AMT, RB, 5.000%, 10/01/18, XLCA

    500,000         549,680   
    

 

 

 
       1,659,505   
    

 

 

 

Georgia 3.3%

  

  

Georgia State, Series A, GO, 5.000%, 01/01/20

    400,000         496,036   
    

 

 

 

Hawaii 3.0%

  

  

Hawaii State, GO, 5.000%, 05/01/15

    400,000         438,288   
    

 

 

 

Kansas 3.4%

  

  

Kansas Development Finance Authority, RB, 5.000%, 06/01/13

    500,000         504,165   
    

 

 

 

Louisiana 3.3%

  

  

Louisiana State, Series A, RB, 5.000%, 06/15/20

    400,000         491,292   
    

 

 

 

Maryland 4.0%

  

  

Maryland State Transportation Authority, Transportation Facilities Project, RB, 5.000%, 07/01/23(c)

    500,000         592,075   
    

 

 

 

Massachusetts 3.0%

  

  

Massachusetts Water Pollution Abatement Trust (The), RB, 5.000%, 08/01/13

    440,000         447,282   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Michigan 5.4%

  

  

Michigan Finance Authority, Series B, RB, 5.000%, 07/01/23(c)

    750,000         792,525   
    

 

 

 

Missouri 3.8%

  

  

Missouri Highway & Transportation Commission, RB, 5.000%, 05/01/16

    500,000         568,610   
    

 

 

 

New Jersey 14.0%

  

  

New Jersey Economic Development Authority, Series O, RB, 5.250%, 03/01/25, Pre-refunded 03/01/2015 @ 100

    1,500,000         1,641,105   

New Jersey Higher Education Student Assistance Authority, AMT, RB, 4.000%, 12/01/17

    400,000         434,464   
    

 

 

 
       2,075,569   
    

 

 

 

New York 9.7%

  

  

New York State Dormitory Authority, Series A, RB, 5.000%, 03/15/15

    400,000         436,652   

New York State Urban Development Corp., Series A, RB, 5.000%, 03/15/14

    490,000         512,854   

Port Authority of New York & New Jersey, AMT, RB, 5.000%, 07/15/20

    400,000         487,124   
    

 

 

 
       1,436,630   
    

 

 

 

Ohio 6.7%

  

  

Columbus, Series A, GO, 3.000%, 02/15/14(c)

    450,000         461,079   

Ohio State Water Development Authority, RB, 4.750%, 12/01/22, Pre-refunded 06/01/2014 @ 100

    500,000         526,400   
    

 

 

 
       987,479   
    

 

 

 

Oklahoma 2.9%

  

  

Oklahoma City, GO, 4.000%, 03/01/15

    400,000         427,696   
    

 

 

 

Pennsylvania 3.4%

  

  

Pennsylvania Economic Development Financing Authority, RB, 5.000%, 07/01/22

    450,000         509,431   
    

 

 

 

Tennessee 2.8%

  

  

Hamilton County, Series A, GO, 4.000%, 01/01/14(c)

    400,000         411,544   
    

 

 

 
 

 

See Notes to Financial Statements.

 

112


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Short-Term Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Texas 3.4%

  

  

Lower Colorado River Authority, RB, 5.000%, 05/15/13

    500,000         503,165   
    

 

 

 

Virginia 1.9%

  

  

Fairfax County, Series A, GO, 5.000%, 04/01/16, Pre-refunded 04/01/2014 @ 100, State Aid Withholding

    265,000         277,752   
    

 

 

 

Total Municipal Bonds (Cost $13,391,615)

       13,513,665   
    

 

 

 
Money Market Fund 15.8%     

Federated Tax-Free Obligations Fund, Institutional Shares, 0.01%(d)

    2,345,242         2,345,242   
    

 

 

 

Total Money Market Fund
(Cost $2,345,242)

       2,345,242   
    

 

 

 

Total Investments
(Cost $15,736,857) — 107.0%

       15,858,907   

Liabilities in excess of other assets — (7.0)%

       (1,043,350
    

 

 

 

Net Assets — 100.0%

     $ 14,815,557   
    

 

 

 

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2013.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(d) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

AMBAC     Security guaranteed by American Municipal Bond Assurance Corporation
AMT     Income subject to Alternative Minimum Tax
GO     General Obligation
RB     Revenue Bond
XLCA     Security guaranteed by XL Capital Assurance, Inc.
 

 

See Notes to Financial Statements.

 

113


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Short-Term U.S. Treasury Securities Fund

 

     Shares or
Principal
Amount($)
     Value($)  
U.S. Treasury Obligations 98.3%   

U.S. Treasury Notes 98.3%

  

3.125%, 04/30/13

    130,000         130,310   

1.125%, 06/15/13

    2,510,000         2,515,294   

2.000%, 11/30/13

    970,000         981,898   

0.375%, 11/15/14

    1,000,000         1,002,383   

2.375%, 02/28/15

    720,000         749,166   

2.500%, 04/30/15

    3,205,000         3,353,231   

1.750%, 07/31/15

    1,795,000         1,856,001   

0.750%, 06/30/17

    1,425,000         1,433,238   
    

 

 

 

Total U.S. Treasury Obligations
(Cost $11,917,071)

         12,021,521   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Money Market Fund 0.8%

  

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(a)

    93,932         93,932   
    

 

 

 

Total Money Market Fund
(Cost $93,932)

       93,932   
    

 

 

 

Total Investments
(Cost $12,011,003) — 99.1%

       12,115,453   

Other assets in excess of liabilities — 0.9%

       106,492   
    

 

 

 

Net Assets — 100.0%

     $ 12,221,945   
    

 

 

 

 

(a) Rate disclosed, the 7 day net yield, is as of March 31, 2013.
 

 

See Notes to Financial Statements.

 

114


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
    
Asset-Backed Securities 1.4%   

Home Equity 0.3%

    

Ameriquest Mortgage Securities, Inc., Series 2005-R5, Cl M1, 0.634%, 07/25/35(a)

    4,743,812         4,628,058   
    

 

 

 

Manufactured Housing 0.4%

  

  

Newcastle Investment Trust, Series 2010-MH1, Cl M1, 6.000%, 07/10/35(b)

    4,660,000         4,904,655   
    

 

 

 

Other 0.7%

  

  

Domino’s Pizza Master Issuer LLC, Series 2012-1A, Cl A2, 5.216%, 01/25/42(b)

    7,111,700         7,981,020   

Nationstar Agency Advance Funding Trust 2013-T2A, Series 2013-T2A, Cl AT2, 1.892%, 02/18/48(b)

    1,665,000         1,676,505   
    

 

 

 
       9,657,525   
    

 

 

 

Total Asset-Backed Securities
(Cost $18,118,456)

   

     19,190,238   
    

 

 

 
Collateralized Mortgage Obligations 7.2%      

Agency Collateralized Mortgage Obligations 4.7%

  

Federal Home Loan Mortgage Corporation

    

Series 3768, Cl CB, 3.500%, 12/15/25

    2,366,874         2,545,727   

Series 3774, Cl EW, 3.500%, 12/15/25

    2,443,855         2,634,659   

Series 3775, Cl EM, 3.500%, 11/15/25

    4,282,495         4,682,900   

Series 3800, Cl CB, 3.500%, 02/15/26

    2,820,000         3,039,013   

Series 3806, Cl L, 3.500%, 02/15/26

    8,118,442         8,702,052   

Series 3825, Cl CB, REMIC, 3.500%, 03/15/26

    133,000         143,084   

Series 3829, Cl BE, 3.500%, 03/15/26

    3,634,000         3,919,996   

Series 3877, Cl LM, 3.500%, 06/15/26

    1,412,000         1,529,086   

Series 3909, Cl UB, REMIC, 3.500%, 08/15/26

    3,156,000         3,434,845   

Series 3942, Cl KB, 3.000%, 10/15/26

    4,411,556         4,639,413   

Series 3950, Cl YB, 3.000%, 11/15/26

    1,418,603         1,493,548   
     Shares or
Principal
Amount($)
     Value($)  
    

Agency Collateralized Mortgage Obligations—continued

  

Series 3978, Cl B, 3.000%, 12/15/26

    4,636,000         4,884,819   

Series 4034, Cl B, 3.500%, 04/15/27

    1,653,521         1,747,702   

Series 4065, Cl CL, 3.000%, 06/15/27

    1,902,575         2,012,844   

Series 4077, Cl B, 3.000%, 07/15/27

    1,718,283         1,820,091   
    

 

 

 
       47,229,779   
    

 

 

 

Federal National Mortgage Association

    

Series 2011-124, Cl BC, 3.500%, 12/25/21

    2,183,370         2,392,419   

Series 2011-36, Cl DB, 3.000%, 05/25/26

    2,095,000         2,209,588   

Series 2011-44, Cl EB, 3.000%, 05/25/26

    5,208,000         5,499,622   

Series 2012-17, Cl BC, 3.500%, 03/25/27

    4,687,240         5,048,612   
    

 

 

 
       15,150,241   
    

 

 

 
       62,380,020   
    

 

 

 

Agency Collateralized Planned Amortization Class Mortgage Obligations 0.4%

   

Federal Home Loan Mortgage Corporation

    

Series 3959, Cl PB, 3.000%, 11/15/26

    4,683,638         4,984,660   

Federal National Mortgage Association

    

Series 2011-89, Cl BT, 3.500%, 09/25/26

    600,000         632,425   
    

 

 

 
       5,617,085   
    

 

 

 

Commercial Mortgage Backed Securities 2.1%

  

Extended Stay America Trust

    

Series 2013-ESH5, Cl B5, 2.278%, 12/05/31(b)

    2,940,000         2,989,239   

Series 2013-ESH7, Cl A27, 2.958%, 12/05/31(b)

    2,845,000         2,877,379   
    

 

 

 
       5,866,618   
    

 

 

 

GS Mortgage Securities Corp. II

    

Series 2012-ALOH, Cl A, 3.551%, 04/10/34(b)

    5,681,000         5,973,657   

Series 2012-BWTR, Cl A, 2.954%, 11/05/34(b)

    1,574,000         1,567,997   

Series 2012-BWTR, Cl B, 3.255%, 11/05/34(b)

    2,890,000         2,894,263   
    

 

 

 
       10,435,917   
    

 

 

 
 

 

See Notes to Financial Statements.

 

115


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Commercial Mortgage Backed Securities—continued

  

JPMorgan Chase Commercial Mortgage Securities Corp.

    

Series 2005-LDP3, Cl A4B, 4.996%, 08/15/42(a)

    1,796,000         1,956,623   

Series 2010-C2, Cl C, 5.527%, 11/15/43(a)(b)

    2,247,000         2,600,930   
    

 

 

 
       4,557,553   
    

 

 

 

LB-UBS Commercial Mortgage Trust

    

Series 2005-C3, Cl AM, 4.794%, 07/15/40

    2,100,000         2,264,199   
    

 

 

 

Merrill Lynch Mortgage Trust

    

Series 2005-LC1, Cl AM, 5.312%, 01/12/44(a)

    391,000         431,184   
    

 

 

 

Wachovia Bank Commercial Mortgage Trust

    

Series 2005-C21, Cl AM, 5.241%, 10/15/44(a)

    3,142,000         3,460,875   
    

 

 

 
       27,016,346   
    

 

 

 

Total Collateralized Mortgage Obligations
(Cost $89,274,533)

       95,013,451   
    

 

 

 
Bank Loans 6.1%     

Aerospace/Defense 0.1%

    

AM General LLC, Term Loan B, 03/22/18(b)(c)(d)

    310,000         303,800   

AWAS Finance Luxembourg 2012 S.A., New Term Loan, 4.750%, 07/16/18(a)(b)

    93,074         93,423   

DAE Aviation Holdings, Inc., Term Loan B, 6.250%, 10/29/18(a)(b)

    133,503         135,506   

DAE Aviation Holdings, Inc., New Term Loan B2, 6.250%, 11/02/18(a)(b)

    60,522         61,429   

DigitalGlobe, Inc., New Term Loan B, 3.750%, 01/24/20(a)(b)

    325,000         329,163   

Silver II US Holdings LLC, Term Loan, 4.000%, 12/05/19(a)(b)

    144,638         145,695   

Six3 Systems, Inc., Term Loan B, 7.000%, 10/04/19(a)(b)

    144,638         145,361   

Transdigm, Inc., Term Loan C, 3.750%, 02/28/20(a)(b)

    209,475         212,093   
     Shares or
Principal
Amount($)
     Value($)  

Aerospace/Defense—continued

  

WESCO Distribution, Inc., Term Loan B, 4.500%-5.750%, 12/12/19(a)(b)

    114,713         115,955   

WP CPP Holdings LLC, 1st Lien Term Loan, 4.750%, 12/27/19(a)(b)

    174,563         174,926   
    

 

 

 
       1,717,351   
    

 

 

 

Auto Manufacturers 0.0%(e)

    

Navistar International Corp., Term Loan B, 7.000%, 07/16/14(a)(b)

    129,675         130,939   

Wabash National Corp., Term Loan B, 6.000%, 05/02/19(a)(b)

    217,602         220,187   
    

 

 

 
       351,126   
    

 

 

 

Auto Parts & Equipment 0.2%

  

Allison Transmission, Inc., Term Loan B2, 3.210%, 08/07/17(a)(b)

    1,496,698         1,508,342   

Tomkins LLC, Term Loan B2, 3.750%, 09/29/16(a)(b)

    494,937         500,198   
    

 

 

 
       2,008,540   
    

 

 

 

Chemicals 0.2%

  

Ascend Performance Materials LLC, Term Loan B, 6.750%, 04/10/18(a)(b)

    62,548         63,720   

Eagle Spinco, Inc., Term Loan 1, 01/27/17(b)(c)(d)

    64,773         64,773   

Huntsman International LLC, Extended TL B, 2.743%, 04/19/17(a)(b)

    544,949         548,187   

Ineos US Finance LLC, 6 year Term Loan, 6.500%, 05/04/18(a)(b)

    920,962         935,430   

Nexeo Solutions LLC, Term Loan B, 5.000%, 09/08/17(a)(b)

    182,780         182,667   

PQ Corp., Term Loan, 4.500%, 08/07/17(a)(b)

    94,763         95,770   

Taminco NV, USD Term Loan B2, 4.250%, 02/15/19(a)(b)

    99,002         99,651   

U.S. Coatings Acquisition, Inc., Term Loan, 4.750%, 02/03/20(a)(b)

    275,000         278,553   
    

 

 

 
       2,268,751   
    

 

 

 
 

 

See Notes to Financial Statements.

 

116


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Commercial Services 0.3%

  

ADS Waste Holdings, Inc., New Term Loan B, 4.250%, 10/09/19(a)(b)

    438,900         443,381   

AlixPartners LLP, Refinance Term Loan B2, 4.500%, 06/28/19(a)(b)

    178,652         179,880   

Corporate Executive Board Co. (The), Term Loan B, 5.000%, 07/02/19(a)(b)

    74,813         75,561   

Dematic S.A., Term Loan, 5.250%, 12/27/19(a)(b)

    194,513         196,458   

Genpact International, Inc., Term Loan B, 4.250%, 08/30/19(a)(b)

    283,575         287,474   

Harland Clarke Holdings Corp., Extended Term Loan B2, 5.454%, 06/30/17(a)(b)(c)

    678,657         670,174   

Hertz Corp. (The), Term Loan B, 3.750%, 03/09/18(a)(b)

    494,950         495,360   

Hertz Corp. (The), Add-On Term Loan B, 3.750%, 03/11/18(a)(b)

    129,675         131,296   

Infor (US), Inc., Term Loan B2, 5.250%, 04/05/18(a)(b)

    293,525         298,001   

Merrill Communications, LLC, 1st Lien Term Loan, 7.250%, 03/08/18(a)(b)

    260,000         259,805   

Moneygram International, Inc., New Term Loan B, 03/20/20(b)(d)

    80,000         80,650   

Walter Energy, Inc., Term Loan B, 5.750%, 04/02/18(a)(b)

    366,864         368,801   
    

 

 

 
       3,486,841   
    

 

 

 

Consumer Discretionary 0.0%(e)

  

Collective Brands Finance, Inc., Term Loan, 7.250%, 10/09/19(a)(b)

    179,550         181,907   

Revlon, Inc., Term Loan B, 4.000%, 11/19/17(a)(b)

    70,000         71,002   

Spectrum Brands, Inc., New Term Loan, 4.500%, 12/17/19(a)(b)

    69,825         70,785   

Sun Products Corp. (The), New Term Loan, 5.500%, 03/18/20(a)(b)

    150,000         151,313   
    

 

 

 
       475,007   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Consumer Staples 0.0%(e)

  

Serta Simmons Holdings LLC, Term Loan, 5.000%, 10/01/19(a)(b)

    385,000         390,005   
    

 

 

 

Diversified Financial Services 0.3%

  

Acosta, Inc., Term Loan D, 5.000%, 03/02/18(a)(b)

    54,863         55,531   

Affinion Group, Inc., Term Loan B, 6.500%, 10/10/16(a)(b)

    494,907         483,667   

American Capital Holdings, Inc., New Term Loan, 5.500%, 08/22/16(a)(b)

    210,000         213,150   

Clipper Acquisitions Corp., Term Loan B, 4.000%, 02/06/20(a)(b)

    144,638         146,084   

Duff & Phelps Investment Management Co., Term Loan B, 03/14/20(b)(c)(d)

    70,000         70,657   

First Data Corp., Extended 2018 Term Loan B, 4.204%, 03/23/18(a)(b)

    640,000         637,203   

First Data Corp., Extended 2017 US Term Loan, 5.204%, 03/24/17(a)(b)

    180,000         181,215   

First Data Corp., 2018 Add-on Term Loan, 5.204%, 09/24/18(a)(b)

    130,000         130,849   

Getty Images, Inc., Term Loan B, 4.750%, 10/18/19(a)(b)

    84,788         85,890   

Interactive Data Corp., New Term Loan B, 3.750%, 02/11/18(a)(b)

    305,000         308,242   

MIP Delaware LLC, Term Loan, 07/12/18(b)(c)(d)

    100,000         100,667   

Nuveen Investments, Inc., New Term Loan, 5.204%, 05/13/17(a)(b)

    275,000         279,961   

Springleaf Financial Funding Co., Term Loan, 5.500%, 05/10/17(a)(b)

    950,000         954,949   

SunGard Data Systems, Inc., Term Loan E, 4.000%, 03/08/20(a)(b)

    295,000         297,673   

SunGard Data Systems, Inc., Term Loan D, 4.500%, 01/31/20(a)(b)

    324,188         327,971   
    

 

 

 
       4,273,709   
    

 

 

 
 

 

See Notes to Financial Statements.

 

117


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Electric 0.1%

  

Calpine Corp., Term Loan B1, 4.000%, 04/02/18(a)(b)

    989,899         1,001,451   

Calpine Corp., Term Loan B3, 4.000%, 10/09/19(a)(b)

    233,825         236,748   

NRG Energy, Inc., New Term Loan B, 3.250%, 07/02/18(a)(b)

    494,962         501,149   
    

 

 

 
       1,739,348   
    

 

 

 

Electronics 0.0%(e)

  

Blackboard, Inc., Term Loan B2, 10/04/18(a)(b)(c)(d)

    164,588         166,851   
    

 

 

 

Energy 0.0%(e)

  

Chesapeake Energy Corp., New Unsecured Term Loan, 5.750%, 12/01/17(a)(b)

    510,000         525,239   

Progressive Waste Solutions Ltd., Term Loan B, 3.500%, 10/24/19(a)(b)

    49,875         50,467   
    

 

 

 
       575,706   
    

 

 

 

Entertainment 0.1%

  

Cedar Fair, L.P., New Term Loan B, 3.250%, 03/06/20(a)(b)

    135,000         136,604   

Cinemark USA, Inc., New Term Loan, 3.210%, 12/18/19(a)(b)

    149,625         150,934   

Delta 2 (LUX) S.A.R.L., Extended Term Loan B2, 6.000%, 04/30/19(a)(b)

    157,708         160,073   

Live Nation Entertainment, Inc., Term Loan B, 4.500%, 11/07/16(a)(b)

    34,732         34,958   

Regent Seven Seas Cruises, Inc., Refinance Term Loan B, 4.750%, 12/21/18(a)(b)

    120,000         121,350   

SeaWorld Parks & Entertainment, Inc., Term Loan B, 4.000%, 08/17/17(a)(b)

    480,052         481,852   

WaveDivision Holdings LLC, Term Loan B, 4.000%, 10/15/19(a)(b)

    74,813         75,608   
    

 

 

 
       1,161,379   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Food 0.3%

  

AdvancePierre Foods, Inc., Term Loan, 5.750%, 07/10/17(a)(b)

    49,875         50,511   

Aramark Corp., Non-Extended Synthetic LOC, 2.084%, 01/27/14(a)(b)

    39,441         39,747   

Aramark Corp., Extended Term Loan C, 3.704%-3.784%, 07/26/16(a)(b)

    460,559         462,765   

Aramark Corp., Term Loan D, 4.000%, 09/09/19(a)(b)

    175,000         176,530   

Blue Buffalo Co., Ltd., Term Loan B2, 4.750%, 08/08/19(a)(b)

    164,176         166,433   

Brasa Holdings, Inc., 1st Lien Term Loan, 7.500%, 07/19/19(a)(b)

    79,600         79,799   

Burger King Corp., New Term Loan B, 3.750%, 09/27/19(a)(b)

    79,600         80,510   

Del Monte Foods Co., Term Loan, 4.000%, 03/08/18(a)(b)

    104,738         105,605   

HJ Heinz Co., Term Loan B2, 03/27/20(a)(b)(c)(d)

    1,285,000         1,295,884   

ISS Holdings A/S, Term Loan B12, 03/15/18(a)(b)(c)(d)

    145,000         145,181   

Landry’s, Inc., Term Loan B, 4.750%, 04/24/18(a)(b)

    400,254         403,256   

OSI Restaurant Partners LLC, New Term Loan B, 4.750%, 10/24/19(a)(b)

    68,250         69,118   

Wendy’s International, Inc., Term Loan B, 4.750%, 05/15/19(a)(b)

    189,050         190,861   
    

 

 

 
       3,266,200   
    

 

 

 

Health Care 0.5%

  

American Renal Holdings, Inc., 1st Lien Term Loan, 4.500%, 09/22/19(a)(b)

    100,000         100,188   

Aptalis Pharma, Inc., Term Loan B, 5.500%, 02/10/17(a)(b)

    494,937         498,401   

Ardent Medical Services, Inc., Term Loan, 6.750%, 07/02/18(a)(b)

    204,488         207,896   
 

 

See Notes to Financial Statements.

 

118


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Health Care—continued

  

Bausch & Lomb, Inc., Term Loan B, 5.250%, 05/17/19(a)(b)

    510,727         515,375   

Biomet, Inc., Extended Term Loan B, 3.954%-4.034%, 07/25/17(a)(b)

    79,600         80,462   

Community Health Systems, Inc., Extended Term Loan, 3.787%, 01/25/17(a)(b)

    119,897         121,055   

Convatec, Inc., Term Loan, 5.000%, 12/22/16(a)(b)

    30,000         30,428   

DaVita, Inc., Term Loan B2, 4.000%, 11/01/19(a)(b)

    568,575         573,817   

Drumm Investors LLC, Term Loan, 5.000%, 05/04/18(a)(b)

    380,719         367,752   

HCA, Inc., Extended Term Loan B2, 3.534%, 03/31/17(a)(b)

    500,000         504,095   

Health Management Associates, Inc., Term Loan B, 11/16/18(b)(c)(d)

    59,846         60,345   

Hologic, Inc., New Term Loan A, 2.203%, 07/17/17(a)(b)

    97,500         97,470   

Hologic, Inc., Term Loan B, 4.500%, 08/01/19(a)(b)

    278,600         282,082   

Iasis Healthcare LLC, Term Loan B2, 4.500%, 05/03/18(a)(b)

    299,250         302,865   

IMS Health, Inc., USD Term Loan B1, 3.750%, 08/25/17(a)(b)

    108,795         109,856   

Inc Research, Inc., Refinance Term Loan B, 6.000%, 07/12/18(a)(b)

    390,244         393,658   

Lifepoint Hospitals, Inc., Term Loan B, 2.710%, 07/24/17(a)(b)

    104,738         105,523   

Onex Carestream Finance LP, Term Loan B, 5.000%, 02/25/17(a)(b)

    211,828         212,472   

Patheon, Inc., Term Loan, 7.250%, 12/06/18(a)(b)

    164,588         167,056   

RPI Finance Trust, New Term Loan Tranche 2, 3.500%, 05/09/18(a)(b)

    1,487,912         1,509,309   
     Shares or
Principal
Amount($)
     Value($)  

Health Care—continued

  

RPI Finance Trust, Incremental Tranche 2, 4.000%, 11/09/18(a)(b)

    153,265         154,606   

Sage Products, Inc., Refinance Term Loan B, 4.250%, 12/13/19(a)(b)

    80,000         80,500   

Select Medical Corp., New Incremental Term Loan B, 3.540%-5.500%, 02/13/16(a)(b)

    64,838         64,838   

Warner Chilcott Co. LLC, New Term Loan B2, 4.250%, 03/15/18(a)(b)

    64,383         65,362   

Warner Chilcott Corp., New Term Loan B1, 4.250%, 03/15/18(a)(b)

    181,693         184,457   

Warner Chilcott Corp., Incremental Term Loan B1, 4.250%, 03/15/18(a)(b)

    79,092         80,295   

WC Luxco S.A.R.L., New Term Loan B3, 4.250%, 03/15/18(a)(b)

    143,176         145,354   
    

 

 

 
       7,015,517   
    

 

 

 

Healthcare-Services 0.0%(e)

  

Bright Horizons Family Solutions, Inc., New Term Loan B, 4.000%-5.250%, 01/16/20(a)(b)

    59,850         60,299   

Par Pharmaceutical Cos., Inc., Refinance Term Loan B, 4.250%, 09/30/19(a)(b)

    313,427         316,298   

Valeant Pharmaceuticals International, Inc., Refinance Term Loan D1, 3.500%, 02/13/19(a)(b)

    89,775         90,752   

Valeant Pharmaceuticals International, Inc., Refinance Term Loan C1, 3.500%, 12/11/19(a)(b)

    84,788         85,706   
    

 

 

 
       553,055   
    

 

 

 

Information Technology 0.2%

  

CDW LLC, Extended Term Loan, 4.000%, 07/14/17(a)(b)

    1,015,138         1,018,945   

CompuCom Systems, Inc., New Term Loan, 6.500%, 10/04/18(a)(b)

    94,763         96,539   
 

 

See Notes to Financial Statements.

 

119


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Information Technology—continued

  

DataPipe, Inc., 1st Lien Term Loan, 5.750%, 03/06/20(a)(b)

    65,000         65,487   

Edwards (Cayman Islands II) Ltd., New Term Loan B, 03/26/20(b)(c)(d)

    50,000         50,000   

Flextronics International Ltd., Term Loan A, 2.454%, 10/01/14(a)(b)

    101,158         101,253   

Riverbed Technology, Inc., Term Loan, 4.000%, 12/18/19(a)(b)

    146,083         147,315   

Shield Finance Co. S.A.R.L., New Term Loan B, 6.500%, 05/10/19(a)(b)

    198,500         200,237   

Southern Graphics, Inc., Term Loan, 5.000%, 10/17/19(a)(b)

    144,638         146,084   

SS&C Technologies, Inc., Term Loan B-2, 5.000%, 06/07/19(a)(b)

    11,897         12,061   

SS&C Technologies, Inc., Term Loan B-1, 5.000%, 06/07/19(a)(b)

    115,006         116,588   

STG-Fairway Acquisitions, Term Loan B, 6.250%, 02/28/19(a)(b)

    175,000         174,673   
    

 

 

 
       2,129,182   
    

 

 

 

Insurance 0.1%

  

Asurion LLC, New Term Loan B1, 4.500%, 05/24/19(a)(b)

    1,062,338         1,072,833   

CNO Financial Group, Inc., New Term Loan B1, 4.250%, 09/28/16(a)(b)

    31,500         31,776   

Compass Investors, Inc., Term Loan, 5.250%, 12/27/19(a)(b)

    224,438         226,682   
    

 

 

 
       1,331,291   
    

 

 

 

Leisure Time 0.0%(e)

  

Bombardier Recreational Products, Inc., New Term Loan B, 5.000%, 01/22/19(a)(b)

    105,000         106,031   

ClubCorp Club Operations, Inc., Term Loan B, 5.000%, 11/30/16(a)(b)

    67,083         68,257   
    

 

 

 
       174,288   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Lodging 0.1%

  

Caesars Entertainment Operating Co., Extended Term Loan B6, 5.454%, 01/26/18(a)(b)(c)

    363,267         336,225   

CCM Merger, Inc., New Term Loan B, 6.000%, 03/01/17(a)(b)

    146,702         147,802   

Las Vegas Sands LLC, Term Loan B, 1.710%, 05/23/14(a)(b)

    78,234         78,244   

Las Vegas Sands LLC, Delayed Draw Term Loan, 1.710%, 05/23/14(a)(b)

    16,050         16,052   

MGM Resorts International, Term Loan B, 4.250%, 12/20/19(a)(b)

    164,588         167,139   

MGM Resorts International, Term Loan A, 3.284%, 12/20/17(a)(b)

    493,763         494,627   

Peninsula Gaming LLC, Term Loan, 5.750%, 11/20/17(a)(b)

    114,713         116,577   

Penn National Gaming, Inc., New Term Loan B, 3.750%, 07/16/18(a)(b)

    44,773         45,109   

ROC Finance LLC, Term Loan,
03/28/19(b)(c)(d)

    45,000         45,197   

Seminole Tribe of Florida, Delayed Draw Term Loan B1, 1.784%, 03/05/14(a)(b)

    9,646         9,644   

Seminole Tribe of Florida, Delayed Draw Term Loan B2, 1.784%, 03/05/14(a)(b)

    34,881         34,875   

Seminole Tribe of Florida, Delayed Draw Term Loan B3, 1.784%, 03/05/14(a)(b)

    11,442         11,439   

Station Casinos, Inc., New Term Loan B, 5.000%, 02/13/20(a)(b)

    350,000         353,790   

Twin River Management Group, Inc., Term Loan B, 9/27/18(b)(c)(d)

    50,000         50,375   
    

 

 

 
       1,907,095   
    

 

 

 
 

 

See Notes to Financial Statements.

 

120


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Machinery-Diversified 0.1%

  

Alliance Laundry Systems LLC, Refinance Term Loan, 4.500%, 12/07/18(a)(b)

    99,494         100,140   

Apex Tool Group, LLC, Term Loan B, 4.500%, 01/28/20(a)(b)

    120,000         121,534   

Brand Energy & Infrastructure Services, Inc., USD Term Loan B2, 5.750%, 10/16/16(a)(b)

    104,415         105,003   

Brand Energy & Infrastructure Services, Inc., Term Loan 2 Canadian, 5.750%, 10/16/16(a)(b)

    25,060         25,201   

Brand Energy & Infrastructure Services, Inc., USD Term Loan B1, 6.250%, 10/16/18(a)(b)

    96,391         97,234   

Brand Energy & Infrastructure Services, Inc., Term Loan 1 Canadian, 6.250%, 10/23/18(a)(b)

    23,134         23,336   

Milacron LLC, New Term Loan, 02/20/19(b)(c)(d)

    70,000         70,437   

Schaeffler AG, USD Term Loan C, 01/27/17(b)(c)(d)

    1,000,000         1,010,830   

Total Safety US, Inc., 1st Lien Term Loan, 5.750%, 02/21/20(a)(b)

    65,000         65,434   
    

 

 

 
       1,619,149   
    

 

 

 

Media 0.4%

  

CCO Holdings LLC, 3rd Lien Term Loan, 2.704%, 09/05/14(a)(b)

    55,000         55,057   

Encompass Digital Media, Inc., New Term Loan B1, 6.750%, 08/10/17(a)(b)

    99,750         100,373   

McGraw-Hill Global Education Holdings, LLC, Term Loan, 9.000%, 03/22/19(a)(b)

    240,000         231,451   

Mediacom Broadband LLC, Term Loan F, 4.500%, 10/23/17(a)(b)

    494,911         497,593   

Mediacom Communications Corp., Term Loan G, 4.000%, 01/08/20(a)(b)

    527,350         530,646   
     Shares or
Principal
Amount($)
     Value($)  

Media—continued

  

Mediacom Illinois LLC, Term Loan C, 1.680%, 01/30/15(a)(b)

    74,405         74,188   

Nine Entertainment Group Ltd., Term Loan B, 3.500%, 01/17/20(a)(b)

    175,000         175,219   

Salem Communications Corp., Term Loan B, 4.500%, 03/15/20(a)(b)

    65,000         65,785   

San Juan Cable Holdings LLC, New Term Loan B, 6.000%, 06/09/17(a)(b)

    494,962         501,149   

Syniverse Holdings, Inc., Delayed Draw Term Loan, 2.000%, 04/23/19(a)(b)

    355,000         355,738   

Syniverse Holdings, Inc., Term Loan, 5.000%, 04/23/19(a)(b)

    282,863         284,913   

Tribune Co., Exit Term Loan, 4.000%, 12/31/19(a)(b)

    842,888         849,631   

Univision Communications, Inc., Initial Term Loan, 2.204%, 09/29/14(a)(b)

    238,301         238,570   

Univision Communications, Inc., Refinance Term Loan C2, 4.750%, 02/21/20(a)(b)

    325,000         326,544   

Van Wagner Communications LLC, New Term Loan B, 8.250%, 08/03/18(a)(b)

    318,400         322,380   

Village Roadshow Films (BVI) Ltd., Term Loan B, 4.750%, 11/21/17(a)(b)

    710,000         718,875   

WideOpenWest Finance LLC, Term Loan B, 03/26/19(a)(b)(c)(d)

    140,000         141,196   

WideOpenWest Finance LLC, 1st Lien Term Loan, 6.250%, 07/17/18(a)(b)

    168,489         170,147   
    

 

 

 
       5,639,455   
    

 

 

 

Mining 0.3%

  

Ameriforge Group, Inc., 1st Lien Term Loan, 6.000%, 12/19/19(a)(b)

    59,850         60,623   

Arch Coal, Inc., Term Loan B, 5.750%, 05/16/18(a)(b)

    183,413         186,418   
 

 

See Notes to Financial Statements.

 

121


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Mining—continued

  

Atlas Iron Ltd., Term Loan B, 8.750%, 12/07/17(a)(b)

    99,750         99,999   

FMG America Finance, Inc., Term Loan, 5.250%, 10/18/17(a)(b)

    2,079,550         2,103,132   

Novelis, Inc., New Term Loan, 3.750%, 03/10/17(a)(b)

    826,224         836,552   
    

 

 

 
       3,286,724   
    

 

 

 

Miscellaneous Manufacturer 0.1%

  

Boomerang Tube LLC, Term Loan, 11.000%, 10/02/17(a)(b)

    151,125         152,636   

Clarke American Corp., Non Extended Term Loan B1, 2.704%, 06/30/14(a)(b)(c)

    523,553         520,196   

QS0001 Corp., 1st Lien Term Loan, 5.000%, 11/09/18(a)(b)

    84,788         85,918   

Sensata Technologies Finance Co. LLC, Term Loan, 3.750%, 05/11/18(a)(b)

    494,962         500,135   
    

 

 

 
       1,258,885   
    

 

 

 

Oil & Gas 0.4%

  

Alon USA Energy, Inc., MLP Term Loan, 9.250%, 11/26/18(a)(b)

    121,917         126,489   

EMG Utica LLC, Term Loan, 03/31/20(b)(c)(d)

    80,000         80,300   

Energy Transfer Equity, L.P., New Term Loan B, 3.750%, 03/24/17(a)(b)

    1,500,000         1,504,695   

EP Energy LLC, Incremental Term Loan, 4.500%, 04/26/19(a)(b)

    225,000         227,718   

Frac Tech International LLC, Term Loan B, 8.500%, 05/06/16(a)(b)

    792,253         748,236   

MEG Energy Corp., Refinance Term Loan, 3.750%, 03/31/20(a)(b)

    413,952         417,885   

NFR Energy LLC, 2nd Lien Term Loan, 7.500%, 12/31/18(a)(b)

    80,000         81,850   
     Shares or
Principal
Amount($)
     Value($)  

Oil & Gas—continued

  

Plains Exploration & Production, 7 year Term Loan, 4.000%, 11/30/19(a)(b)

    685,000         685,685   

Ruby Western Pipeline Holdings, LLC, Term Loan B, 03/27/20(b)(c)(d)

    165,000         166,856   

Saxon Energy Services, Inc., Term Loan B, 5.500%, 01/22/19(a)(b)

    95,000         95,396   

Tesoro Corp., Term Loan B, 01/30/16(a)(b)(c)(d)

    215,000         217,419   

Vantage Drilling Co., Term Loan B, 03/22/19(b)(c)(d)

    170,000         170,638   

Vantage Drilling Co., Term Loan, 6.250%, 10/26/17(a)(b)

    190,125         191,313   
    

 

 

 
       4,714,480   
    

 

 

 

Packaging & Containers 0.2%

  

Berlin Packaging LLC, 1st Lien Term Loan, 03/25/19(a)(b)(c)(d)

    45,000         44,775   

Berry Plastics Holding Corp., Term Loan D, 3.500%, 02/04/20(a)(b)

    1,865,000         1,859,909   

BWAY Corp., Term Loan B, 4.500%-5.500%, 08/07/17(a)(b)

    99,750         100,797   

Consolidated Container Co. LLC, Term Loan Reprice, 5.000%, 07/03/19(a)(b)

    94,525         95,554   

Reynolds Group Holdings, Inc., New Dollar Term Loan, 4.750%, 09/28/18(a)(b)

    233,825         237,064   

Sealed Air Corp., New Term Loan, 4.000%, 10/03/18(a)(b)

    49,250         49,880   

Tronox, Inc., Term Loan, 03/13/20(b)(c)(d)

    265,000         268,532   
    

 

 

 
       2,656,511   
    

 

 

 

Real Estate 0.2%

  

Alliant Holdings I, Inc., New Term Loan B, 5.000%, 12/20/19(a)(b)

    194,513         196,782   

CB Richard Ellis Services, Inc., New Term Loan B, 03/26/21(b)(c)(d)

    260,000         261,300   
 

 

See Notes to Financial Statements.

 

122


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Real Estate—continued

  

General Growth Properties, Inc., Debtor in Possession Term Loan, 07/11/16(b)(c)(d)

    264,477         259,188   

Istar Financial, Inc., Term Loan, 4.500%, 09/28/17(a)(b)

    1,104,171         1,112,794   

Istar Financial, Inc., Add on Term Loan A2, 7.000%, 03/17/17(a)(b)

    15,000         15,970   

Realogy Corp., Extended Letter of Credit, 4.459%, 10/10/16(a)(b)

    18,074         18,308   

Realogy Corp., Extended Term Loan, 4.500%, 03/05/20(a)(b)

    190,000         192,455   
    

 

 

 
       2,056,797   
    

 

 

 

Retail 0.4%

  

Academy Ltd., Term Loan, 4.750%, 08/03/18(a)(b)

    119,400         120,975   

Albertson’s, LLC, Term Loan, 5.750%, 03/21/16(a)(b)

    330,000         335,362   

BJ’s Wholesale Club, Inc., Replacement Term Loan, 4.250%, 09/26/19(a)(b)

    120,000         121,025   

Capital Automotive LP, Term Loan B, 5.250%, 03/10/17(a)(b)

    636,202         637,596   

Evergreen Acqco 1 LP, New Term Loan, 5.000%, 07/09/19(a)(b)

    124,375         125,813   

Gymboree Co. ( The), Initial Term Loan, 5.000%, 02/23/18(a)(b)

    155,000         150,018   

Harbor Freight Tools USA, Inc., Term Loan B, 5.500%, 11/14/17(a)(b)

    99,500         100,619   

J Crew Group, Inc., Term Loan B1, 4.000%, 03/07/18(a)(b)

    494,962         500,100   

Jo-Ann Stores, Inc., Term Loan, 4.000%, 03/16/18(a)(b)

    400,590         404,296   

Michaels Stores, Inc., New Term Loan, 3.750%, 01/28/20(a)(b)

    210,000         211,953   

Ollie’s Bargain Outlet, Inc., Term Loan, 5.250%-6.250%, 09/27/19(a)(b)

    85,000         85,425   
     Shares or
Principal
Amount($)
     Value($)  

Retail—continued

  

Party City Holdings, Inc., Refinance Term Loan B, 4.250%, 07/29/19(a)(b)(c)

    353,402         355,777   

Petco Animal Supplies, Inc., New Term Loan, 4.000%, 11/24/17(a)(b)

    498,724         504,899   

Pilot Travel Centers LLC, Term Loan B2, 4.250%, 08/07/19(a)(b)

    109,450         110,647   

Rite Aid Corp., Term Loan 6, 4.000%, 02/21/20(a)(b)

    280,000         283,032   

Rite Aid Corp., 2nd Lien Term Loan, 5.750%, 08/21/20(a)(b)

    170,000         175,950   

Supervalu, Inc., New Term Loan B, 6.250%, 03/21/19(a)(b)

    115,000         116,881   

Toys ‘R’ Us-Delaware, Inc., Term Loan B3, 5.250%, 05/25/18(a)(b)

    137,530         130,883   

Toys ‘R’ Us-Delaware, Inc., New Term Loan, 6.000%, 09/01/16(a)(b)

    179,540         175,649   
    

 

 

 
       4,646,900   
    

 

 

 

Semiconductors 0.1%

  

Freescale Semiconductor, Inc., Term Loan B4, 5.000%, 03/02/20(a)(b)

    965,000         967,113   

Microsemi Corp., Repriced Term Loan, 3.750%, 02/19/20(a)(b)

    225,000         226,913   

ON Semiconductor Corp., Term Loan A, 01/02/18(b)(c)(d)

    385,000         371,525   
    

 

 

 
       1,565,551   
    

 

 

 

Software 0.0%(e)

  

SurveyMonkey.com, LLC, Term Loan B, 5.500%, 02/05/19(a)(b)

    255,000         258,188   
    

 

 

 

Telecommunication Services 0.9%

  

Alcatel-Lucent USA, Inc., USD Term Loan B, 6.250%, 07/29/16(a)(b)

    40,000         40,528   

Alcatel-Lucent USA, Inc., USD Term Loan C, 7.250%, 01/31/19(a)(b)

    149,625         151,769   
 

 

See Notes to Financial Statements.

 

123


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

Arris Group, Inc., Term Loan B,
02/07/20(b)(c)(d)

    455,000         455,569   

Avaya, Inc., Extended Term Loan B3, 4.788%, 10/26/17(a)(b)(c)

    234,322         220,907   

Avaya, Inc., Term Loan B5, 8.000%, 03/30/18(a)(b)

    154,553         155,423   

Cequel Communications LLC, Term Loan B, 4.000%, 02/14/19(a)(b)

    1,084,273         1,093,761   

Consolidated Communications, Inc., Term Loan B3, 5.250%, 12/31/18(a)(b)

    144,638         146,156   

Cricket Communications, Inc., Term Loan C, 02/21/20(b)(c)(d)

    205,000         206,076   

Cricket Communications, Inc., Term Loan, 4.750%, 10/10/19(a)(b)

    34,913         35,065   

Crown Castle International Corp., Term Loan B, 4.000%, 01/31/19(a)(b)

    1,084,259         1,095,557   

CSC Holdings, Inc., Incremental B-2 Term Loan, 1.954%, 03/29/16(a)(b)

    615,496         618,475   

Gray Television, Inc., New Term Loan B, 4.750%, 10/15/19(a)(b)

    327,748         331,297   

Integra Telecom, Inc., Refinance Term Loan, 6.000%, 02/15/19(a)(b)

    275,000         278,482   

Intelsat Jackson Holdings Ltd., Term Loan, 3.205%, 02/03/14(a)(b)

    2,000,000         1,997,000   

Intelsat Jackson Holdings Ltd., Term Loan B1, 4.500%, 04/02/18(a)(b)

    374,063         379,112   

Level 3 Financing, Inc., Term Loan, 4.750%, 08/01/19(a)(b)

    380,000         384,195   

Level 3 Financing, Inc., 2019 Term Loan B, 5.250%, 08/01/19(a)(b)

    1,610,000         1,630,527   

LIN Television Corp., Term Loan B, 4.000%, 12/21/18(a)(b)

    94,522         95,408   
     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

MetroPCS Wireless, Inc., New Term Loan B3, 4.000%, 03/16/18(a)(b)

    494,945         496,094   

Mission Broadcasting, Inc., Mission Term Loan B, 1.750%-4.500%, 12/03/19(a)(b)

    14,857         15,089   

Nexstar Broadcasting, Inc., Term Loan, 4.500%, 12/03/19(a)(b)

    35,143         35,692   

Peak Ten, Inc., New Term Loan B, 7.250%, 10/25/18(a)(b)

    94,763         95,592   

UPC Financing Partnership, Term Loan T, 3.704%, 12/30/16(a)(b)

    485,660         488,088   

Virgin Media Investment Holdings Ltd., USD Term Loan B,
02/17/20(b)(c)(d)

    1,035,000         1,030,022   

WMG Acquisition Corp., Term Loan, 5.250%, 11/01/18(a)(b)

    69,125         70,119   

Zayo Group LLC, New Term Loan B, 4.500%, 07/02/19(a)(b)

    383,070         386,683   
    

 

 

 
       11,932,686   
    

 

 

 

Telecommunications 0.3%

  

SBA Finance, Add on Term Loan, 3.750%, 09/27/19(a)(b)

    44,888         45,421   

Vodafone Americas Finance 2, PIK Term Loan, 6.875%, 08/11/15(a)(b)(f)

    3,000,000         3,060,000   

Windstream Corp., Term Loan B4, 3.500%, 01/23/20(a)(b)

    189,525         191,303   

Windstream Corp., Term Loan B3, 4.000%, 08/08/19(a)(b)

    109,175         110,608   
    

 

 

 
       3,407,332   
    

 

 

 

Transportation 0.1%

  

American Petroleum Tankers LLC, Term Loan B, 09/30/19(a)(b)(c)

    160,000         159,200   
 

 

See Notes to Financial Statements.

 

124


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Transportation—continued

  

August LuxUK Holding Co., S.A.R.L., Luxco Term Loan, 6.250%, 04/27/18(a)(b)

    56,239         56,942   

August U.S. Holding Co., Inc., Term Loan B, 6.250%, 04/27/18(a)(b)

    43,261         43,802   

Avis Budget Car Rental, LLC, New Term Loan, 3.750%, 03/15/19(a)(b)

    59,849         60,460   

Commercial Barge Line Co., 1st Lien Term Loan, 7.500%, 09/23/19(a)(b)

    180,000         180,000   

Delta Air Lines, Inc., Term Loan B1, 5.250%, 10/18/18(a)(b)

    255,000         258,945   

FleetPride Corp., 1st Lien Term Loan, 5.250%, 11/20/19(a)(b)

    134,663         136,110   

Sabre, Inc., Term Loan C, 4.000%, 02/19/18(a)(b)

    168,438         169,310   

Sabre, Inc., Term Loan B, 5.250%-6.250%, 02/19/19(a)(b)

    104,738         106,046   

United Airlines, Inc., New Term Loan B, 03/22/19(b)(c)(d)

    65,000         65,596   
    

 

 

 
       1,236,411   
    

 

 

 

Utilities 0.1%

  

AES Corp., Refinance Term Loan B, 3.750%-5.000%, 06/01/18(a)(b)

    700,128         709,194   

Astoria Generating Co. Acquisitions, LLC, New Term Loan, 8.500%, 10/26/17(a)(b)

    120,000         124,050   

NGPL PipeCo LLC, Term Loan B, 6.750%, 09/15/17(a)(b)

    238,929         242,016   
    

 

 

 
       1,075,260   
    

 

 

 

Total Bank Loans (Cost $79,270,111)

       80,345,571   
    

 

 

 
Corporate Bonds 19.9%   

Aerospace/Defense 0.3%

  

United Technologies Corp., 3.100%, 06/01/22

    3,331,000         3,491,158   
    

 

 

 

Auto Manufacturers 0.3%

  

Daimler Finance N.A. LLC, 3.875%, 09/15/21(b)

    1,932,000         2,090,472   
     Shares or
Principal
Amount($)
     Value($)  

Auto Manufacturers—continued

  

Volkswagen International Finance, 2.375%, 03/22/17(b)

    2,282,000         2,365,686   
    

 

 

 
       4,456,158   
    

 

 

 

Banks 1.5%

  

Fifth Third Bank, 1.450%, 02/28/18

    4,970,000         4,968,807   

HSBC Bank PLC, 3.100%, 05/24/16(b)

    1,206,000         1,282,429   

HSBC Bank PLC, 3.500%, 06/28/15(b)

    2,196,000         2,323,212   

KeyBank NA, 1.650%, 02/01/18

    2,151,000         2,170,473   

PNC Bank NA, 0.800%, 01/28/16

    5,329,000         5,328,398   

Wells Fargo & Co., 1.250%, 02/13/15, MTN

    3,679,000         3,721,404   
    

 

 

 
       19,794,723   
    

 

 

 

Beverages 0.6%

  

Anheuser-Busch InBev Worldwide, Inc., 2.500%, 07/15/22

    4,337,000         4,262,950   

SABMiller Holdings, Inc., 2.450%, 01/15/17(b)

    3,215,000         3,346,793   
    

 

 

 
       7,609,743   
    

 

 

 

Biotechnology 0.2%

  

Life Technologies Corp., 5.000%, 01/15/21

    493,000         533,383   

Life Technologies Corp., 6.000%, 03/01/20

    1,669,000         1,872,521   
    

 

 

 
       2,405,904   
    

 

 

 

Chemicals 0.3%

  

Dow Chemical Co. (The), 4.375%, 11/15/42

    1,823,000         1,748,398   

Praxair, Inc., 4.625%, 03/30/15

    2,271,000         2,453,302   
    

 

 

 
       4,201,700   
    

 

 

 

Commercial Services 0.4%

  

ERAC USA Finance LLC, 2.750%, 03/15/17(b)

    1,483,000         1,544,837   

ERAC USA Finance LLC, 5.250%, 10/01/20(b)

    1,663,000         1,930,743   

ERAC USA Finance LLC, 5.600%, 05/01/15(b)

    1,184,000         1,296,327   
    

 

 

 
       4,771,907   
    

 

 

 

Computers 0.6%

  

IBM Corp., 0.875%, 10/31/14

    6,104,000         6,152,747   
 

 

See Notes to Financial Statements.

 

125


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Computers—continued

  

IBM Corp., 4.000%, 06/20/42

    2,300,000         2,307,792   
    

 

 

 
       8,460,539   
    

 

 

 

Diversified Financial Services 2.3%

  

American Express Credit Corp., 2.375%, 03/24/17, MTN

    2,003,000         2,094,485   

CME Group, Inc., 5.400%, 08/01/13

    1,230,000         1,249,659   

CME Group, Inc., 5.750%, 02/15/14

    1,428,000         1,489,842   

Ford Motor Credit Co. LLC, 5.000%, 05/15/18

    3,287,000         3,620,335   

General Electric Capital Corp., Series A, 7.125%(a)(g)

    1,400,000         1,628,291   

General Electric Capital Corp., Series B, 6.250%(a)(g)

    4,700,000         5,158,405   

John Deere Capital Corp., 1.250%, 12/02/14, MTN

    2,195,000         2,224,927   

Lazard Group LLC, 7.125%, 05/15/15

    1,781,000         1,970,133   

MassMutual Global Funding LLC, 2.000%, 04/05/17(b)

    1,894,000         1,941,471   

NASDAQ OMX Group, Inc. (The), 5.550%, 01/15/20

    1,119,000         1,206,674   

PACCAR Financial Corp., 1.550%, 09/29/14, MTN

    2,900,000         2,948,761   

Toyota Motor Credit Corp., 3.200%, 06/17/15, MTN

    970,000         1,024,160   

Woodside Finance Ltd., 4.600%, 05/10/21(b)

    3,559,000         3,963,377   
    

 

 

 
       30,520,520   
    

 

 

 

Electric 0.6%

  

Alabama Power Co., 5.800%, 11/15/13

    1,240,000         1,279,762   

Dominion Resources, Inc., 1.950%, 08/15/16

    699,000         720,833   

Duke Energy Carolinas LLC, 4.300%, 06/15/20

    525,000         603,343   

Exelon Generation Co. LLC, 6.200%, 10/01/17

    1,601,000         1,876,995   

Georgia Power Co., 6.000%, 11/01/13

    704,000         725,756   

MidAmerican Energy Holdings Co., 6.125%, 04/01/36

    1,792,000         2,227,302   
     Shares or
Principal
Amount($)
     Value($)  

Electric—continued

  

Southern California Edison Co., 5.750%, 03/15/14

    1,083,000         1,134,689   
    

 

 

 
       8,568,680   
    

 

 

 

Electronics 0.1%

  

Thermo Fisher Scientific, Inc., 2.250%, 08/15/16

    925,000         957,755   
    

 

 

 

Food 0.1%

  

Kroger Co. (The), 7.500%, 01/15/14

    763,000         803,785   
    

 

 

 

Healthcare-Products 0.2%

  

Becton Dickinson and Co., 3.250%, 11/12/20

    573,000         608,358   

Covidien International Finance SA, 6.000%, 10/15/17

    2,189,000         2,626,056   
    

 

 

 
       3,234,414   
    

 

 

 

Household Products/Wares 0.1%

  

Clorox Co. (The), 3.050%, 09/15/22

    1,334,000         1,345,875   
    

 

 

 

Insurance 0.8%

  

Berkshire Hathaway, Inc., 3.200%, 02/11/15

    3,848,000         4,038,468   

Berkshire Hathaway, Inc., 4.600%, 05/15/13

    1,601,000         1,609,538   

Fairfax Financial Holdings Ltd., 5.800%, 05/15/21(b)

    1,189,000         1,259,149   

Nationwide Financial Services, Inc., 5.375%, 03/25/21(b)

    2,977,000         3,284,343   
    

 

 

 
       10,191,498   
    

 

 

 

Internet 0.1%

  

eBay, Inc., 2.600%, 07/15/22

    1,502,000         1,500,861   
    

 

 

 

Machinery-Diversified 0.2%

  

Deere & Co., 3.900%, 06/09/42

    3,171,000         3,132,701   
    

 

 

 

Media 1.0%

  

Comcast Corp., 3.125%, 07/15/22

    2,312,000         2,365,567   

Comcast Corp., 4.650%, 07/15/42

    3,020,000         3,073,327   

Thomson Reuters Corp., 5.950%, 07/15/13

    293,000         297,572   

Time Warner Cable, Inc., 4.000%, 09/01/21

    4,758,000         5,076,810   

Time Warner Cable, Inc., 8.250%, 02/14/14

    1,468,000         1,561,598   
 

 

See Notes to Financial Statements.

 

126


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Media—continued

  

Time Warner, Inc., 6.200%, 03/15/40

    492,000         572,390   
    

 

 

 
       12,947,264   
    

 

 

 

Mining 1.0%

  

Barrick (PD) Australia Finance Property Ltd., 4.950%, 01/15/20

    721,000         800,187   

Barrick (PD) Australia Finance Property Ltd., 5.950%, 10/15/39

    1,708,000         1,854,871   

Barrick International Barbados Corp., 6.350%, 10/15/36(b)

    1,083,000         1,244,471   

BHP Billiton Finance USA Ltd., 1.125%, 11/21/14

    2,260,000         2,284,943   

Kinross Gold Corp., 5.125%, 09/01/21

    3,194,000         3,338,222   

Newmont Mining Corp., 6.250%, 10/01/39

    3,075,000         3,531,687   
    

 

 

 
       13,054,381   
    

 

 

 

Miscellaneous Manufacturer 0.6%

  

3M Co., 1.375%, 09/29/16

    1,432,000         1,466,556   

General Electric Co., 4.125%, 10/09/42

    1,654,000         1,658,209   

General Electric Co., 5.250%, 12/06/17

    1,394,000         1,632,916   

Illinois Tool Works, Inc., 6.250%, 04/01/19

    1,865,000         2,330,383   

Siemens Financieringsmaatschappij NV 6.125%, 08/17/26(b)

    1,091,000         1,424,901   
    

 

 

 
       8,512,965   
    

 

 

 

Oil & Gas 0.8%

  

BP Capital Markets PLC, 2.248%, 11/01/16

    3,026,000         3,148,184   

Ensco PLC, 4.700%, 03/15/21

    2,483,000         2,772,299   

Shell International Finance BV, 3.625%, 08/21/42

    4,476,000         4,330,226   

Statoil ASA, 3.125%, 08/17/17

    427,000         462,951   
    

 

 

 
       10,713,660   
    

 

 

 

Oil & Gas Services 0.6%

  

Baker Hughes, Inc., 5.125%, 09/15/40

    1,869,000         2,172,632   

Schlumberger Investment SA, 3.300%, 09/14/21(b)

    2,234,000         2,385,295   

Weatherford International Ltd., 5.125%, 09/15/20

    1,527,000         1,647,002   
     Shares or
Principal
Amount($)
     Value($)  

Oil & Gas Services—continued

  

Weatherford International Ltd., 6.500%, 08/01/36

    1,465,000         1,573,510   
    

 

 

 
       7,778,439   
    

 

 

 

Pharmaceuticals 0.7%

  

Express Scripts Holding Co., 2.650%, 02/15/17

    2,101,000         2,200,709   

GlaxoSmithKline Capital, Inc., 5.650%, 05/15/18

    2,412,000         2,915,758   

Novartis Capital Corp., 3.700%, 09/21/42

    591,000         570,397   

Novartis Securities Investment Ltd., 5.125%, 02/10/19

    1,305,000         1,558,192   

Zoetis, Inc., 3.250%, 02/01/23(b)

    2,468,000         2,502,757   
    

 

 

 
       9,747,813   
    

 

 

 

Pipelines 1.7%

  

El Paso Natural Gas Co., 5.950%, 04/15/17

    593,000         688,197   

El Paso Pipeline Partners Operating Co. LLC, 6.500%, 04/01/20

    961,000         1,164,437   

Energy Transfer Partners LP, 6.050%, 06/01/41

    1,081,000         1,170,449   

Energy Transfer Partners LP, 6.625%, 10/15/36

    1,299,000         1,481,194   

Enterprise Products Operating LLC, 5.250%, 01/31/20

    4,001,000         4,684,827   

Enterprise Products Operating LLC, Series J, 5.750%, 03/01/35

    1,187,000         1,361,618   

Kinder Morgan Energy Partners LP, 5.000%, 08/15/42

    5,022,000         5,091,063   

Southern Natural Gas Co., 5.900%, 04/01/17(b)

    382,000         445,234   

TC Pipelines LP, 4.650%, 06/15/21

    1,639,000         1,759,507   

TransCanada PipeLines Ltd., 6.100%, 06/01/40

    1,811,000         2,285,899   

Transcontinental Gas Pipe Line Co. LLC, 6.050%, 06/15/18

    365,000         443,587   

Williams Partners LP, 4.125%, 11/15/20

    2,472,000         2,667,206   
    

 

 

 
       23,243,218   
    

 

 

 

Real Estate Investment Trust 0.8%

  

American Tower Corp., 3.500%, 01/31/23

    2,623,000         2,601,512   
 

 

See Notes to Financial Statements.

 

127


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Real Estate Investment Trust—continued

  

Digital Realty Trust LP, 4.500%, 07/15/15

    2,551,000         2,710,484   

Digital Realty Trust LP, 5.875%, 02/01/20

    667,000         759,869   

Healthcare Realty Trust, Inc., 6.500%, 01/17/17

    3,431,000         3,948,841   
    

 

 

 
       10,020,706   
    

 

 

 

Retail 0.6%

  

AutoZone, Inc., 3.700%, 04/15/22

    2,030,000         2,094,804   

Macy’s Retail Holdings, Inc., 4.300%, 02/15/43

    2,864,000         2,625,139   

Walgreen Co., 4.875%, 08/01/13

    1,196,000         1,212,762   

Wesfarmers Ltd., 6.998%, 04/10/13(b)

    1,821,000         1,822,972   
    

 

 

 
       7,755,677   
    

 

 

 

Semiconductors 0.9%

  

Analog Devices, Inc., 3.000%, 04/15/16

    407,000         430,582   

Intel Corp., 1.950%, 10/01/16

    1,635,000         1,693,698   

Intel Corp., 4.250%, 12/15/42

    463,000         452,273   

Intel Corp., 4.800%, 10/01/41

    5,873,000         6,203,104   

TSMC Global Ltd., 1.625%, 04/03/18(b)(c)

    2,920,000         2,915,737   
    

 

 

 
       11,695,394   
    

 

 

 

Software 0.5%

  

Fiserv, Inc., 4.750%, 06/15/21

    1,431,000         1,551,218   

Oracle Corp., 5.750%, 04/15/18

    3,705,000         4,470,609   
    

 

 

 
       6,021,827   
    

 

 

 

Telecommunication Services 1.9%

  

AT&T, Inc., 0.900%, 02/12/16

    2,400,000         2,398,373   

AT&T, Inc., 4.350%, 06/15/45(b)

    1,525,000         1,417,697   

AT&T, Inc., 5.550%, 08/15/41

    2,238,000         2,466,860   

CC Holdings GS V LLC, 3.849%, 04/15/23(b)

    4,298,000         4,330,076   

Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14

    874,000         908,395   

Cisco Systems, Inc., 5.500%, 02/22/16

    1,582,000         1,797,889   
     Shares or
Principal
Amount($)
     Value($)  

Telecommunication Services—continued

  

Cisco Systems, Inc., 5.500%, 01/15/40

    3,302,000         3,940,227   

Juniper Networks, Inc., 3.100%, 03/15/16

    372,000         389,837   

Rogers Communications, Inc., 7.500%, 03/15/15

    1,470,000         1,656,249   

SBA Tower Trust, 2.933%, 12/15/42(b)

    2,692,000         2,811,283   

Verizon Communications, Inc., 5.250%, 04/15/13

    1,325,000         1,327,158   

Verizon Communications, Inc., 5.550%, 02/15/16

    1,832,000         2,066,736   
    

 

 

 
       25,510,780   
    

 

 

 

Transportation 0.1%

  

United Parcel Service, Inc., 3.125%, 01/15/21

    1,447,000         1,544,481   
    

 

 

 

Total Corporate Bonds
(Cost $252,843,455)

       263,994,526   
    

 

 

 

U.S. Government Agency Mortgages 25.7%

  

Federal Home Loan Mortgage Corporation

    

Pool #J18446, 3.000%, 03/01/27

    6,195,957         6,528,844   

Pool #J18800, 3.000%, 04/01/27

    10,363,589         10,920,387   

Pool #J19132, 3.000%, 05/01/27

    5,099,997         5,374,002   

Pool #J19300, 3.000%, 06/01/27

    1,767,986         1,861,868   

Pool #G14517, 2.500%, 07/01/27

    3,611,643         3,757,135   

Pool #J19776, 3.000%, 07/01/27

    915,955         973,467   

Pool #J21337, 2.500%, 08/01/27

    1,020,455         1,058,773   

Pool #J20257, 3.000%, 08/01/27

    5,131,348         5,403,830   

Pool #J20922, 2.500%, 10/01/27

    1,696,909         1,762,616   

Pool #J20729, 2.500%, 10/01/27

    2,684,122         2,792,249   

Pool #J20738, 2.500%, 10/01/27

    7,969,504         8,268,756   

Pool #J21113, 2.500%, 11/01/27

    2,764,044         2,871,073   

Pool #J21155, 2.500%, 11/01/27

    1,819,778         1,888,110   

Pool #J21368, 3.000%, 11/01/27

    843,692         891,130   
 

 

See Notes to Financial Statements.

 

128


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #J21295, 2.500%, 12/01/27

    1,856,295         1,928,173   

Pool #J22029, 3.000%, 01/01/28

    3,635,665         3,828,724   

Pool #J22255, 2.500%, 02/01/28(c)

    1,236,981         1,286,812   

Pool #J22529, 2.500%, 02/01/28

    2,501,373         2,601,356   

Pool #J22137, 2.500%, 02/01/28

    2,039,219         2,115,791   

Pool #J22728, 2.500%, 03/01/28(c)

    951,337         988,769   

Pool #J22831, 2.500%, 03/01/28

    5,300,774         5,512,654   

Pool #J22873, 2.500%, 03/01/28

    1,577,610         1,640,177   

Pool #J22521, 2.500%, 03/01/28

    3,992,112         4,150,436   

Pool #D99439, 3.500%, 06/01/32

    1,031,086         1,104,515   

Pool #G30614, 3.500%, 12/01/32

    6,876,073         7,329,912   

Pool #A12413, 5.000%, 08/01/33

    723,614         785,543   

Pool #G05052, 5.000%, 10/01/33

    416,381         452,016   

Pool #G01797, 5.500%, 12/01/33

    558,846         610,843   

Pool #G01779, 5.000%, 04/01/35

    829,987         896,870   

Pool #G01837, 5.000%, 07/01/35

    5,920,298         6,389,975   

Pool #A39731, 5.000%, 11/01/35

    1,449,439         1,564,428   

Pool #G02162, 5.500%, 05/01/36

    5,840,246         6,341,671   

Pool #G02252, 5.500%, 07/01/36

    1,060,576         1,151,634   

Pool #Z40004, 6.000%, 08/01/36

    1,342,070         1,465,265   

Pool #G02424, 5.500%, 12/01/36

    450,931         489,647   

Pool #G04997, 5.000%, 01/01/37

    1,888,479         2,038,299   

Pool #G05521, 5.500%, 05/01/37

    873,294         951,586   

Pool #G03156, 5.500%, 08/01/37

    63,335         68,595   

Pool #G03551, 6.000%, 11/01/37

    82,151         89,821   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #G05326, 5.000%, 02/01/38

    7,525,893         8,122,948   

Pool #G04337, 5.500%, 04/01/38

    1,076,365         1,165,751   

Pool #G07135, 6.000%, 10/01/38

    6,040,730         6,612,224   

Pool #G06079, 6.000%, 07/01/39

    3,769,987         4,126,654   

Pool #A93996, 4.500%, 09/01/40

    1,732,933         1,854,979   

Pool #Q00291, 5.000%, 04/01/41

    616,027         669,134   

2.500%, TBA, 15 Year Maturity(c)

    29,471,000         30,511,695   
    

 

 

 
       163,199,137   
    

 

 

 

Federal National Mortgage Association

    

Pool #AM3173, 2.050%, 06/01/20(c)

    1,670,000         1,688,587   

Pool #AM2137, 1.950%, 08/01/20

    1,329,000         1,333,028   

Pool #AM2920, 1.980%, 11/01/20(c)

    2,111,000         2,112,984   

Pool #AM1003, 2.150%, 12/01/20

    1,382,692         1,394,484   

Pool #AM0392, 2.140%, 01/01/21

    2,544,802         2,583,279   

Pool #471235, 3.120%, 05/01/22

    84,407         90,066   

Pool #AM0418, 2.720%, 08/01/22

    1,954,957         2,029,705   

Pool #AM0463, 2.720%, 09/01/22

    1,670,191         1,726,894   

Pool #AM3033, 2.670%, 04/01/23(c)

    1,622,000         1,657,846   

Pool #AM0061, 3.100%, 07/01/24

    494,775         514,379   

Pool #AK4110, 3.000%, 02/01/27

    858,138         903,673   

Pool #AO3012, 2.500%, 05/01/27

    2,129,788         2,214,733   

Pool #AL3274, 3.000%, 05/01/27

    3,037,102         3,196,359   

Pool #AO4398, 2.500%, 07/01/27

    1,714,741         1,785,142   

Pool #AK4136, 2.500%, 08/01/27

    406,123         422,289   

Pool #AP4725, 3.000%, 08/01/27

    967,049         1,022,292   

Pool #AP1220, 2.500%, 09/01/27

    3,451,540         3,586,775   
 

 

See Notes to Financial Statements.

 

129


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AI9132, 3.000%, 09/01/27

    801,215         844,480   

Pool #AP7520, 3.000%, 09/01/27

    2,611,427         2,767,132   

Pool #AP1221, 2.500%, 10/01/27

    2,116,488         2,199,414   

Pool #AP9774, 2.500%, 10/01/27

    7,554,549         7,855,855   

Pool #AI9138, 3.000%, 10/01/27

    1,895,006         1,997,336   

Pool #AQ7339, 2.500%, 11/01/27

    3,927,174         4,081,044   

Pool #AM1589, 2.420%, 12/01/27

    1,270,690         1,278,755   

Pool #AI9142, 2.500%, 12/01/27

    3,324,859         3,453,052   

Pool #AQ1273, 3.000%, 01/01/28

    708,583         746,182   

Pool #AR1215, 3.000%, 01/01/28

    1,337,517         1,408,489   

Pool #AR3823, 2.500%, 02/01/28

    2,309,455         2,405,715   

Pool #AB4168, 3.500%, 01/01/32(c)

    6,529,961         6,973,182   

Pool #MA0949, 3.500%, 01/01/32

    4,934,016         5,268,912   

Pool #MA0976, 3.500%, 02/01/32

    1,651,360         1,760,094   

Pool #AP9592, 3.500%, 10/01/32

    4,404,147         4,703,079   

Pool #AB7691, 3.500%, 01/01/33

    2,274,258         2,428,623   

Pool #AB8428, 3.500%, 02/01/33

    4,575,005         4,891,252   

Pool #725773, 5.500%, 09/01/34

    4,398,048         4,852,100   

Pool #255458, 5.500%, 11/01/34

    517,701         571,148   

Pool #735036, 5.500%, 12/01/34

    4,087,632         4,509,637   

Pool #827943, 5.000%, 05/01/35

    931,374         1,013,757   

Pool #735500, 5.500%, 05/01/35

    3,658,957         4,013,838   

Pool #843434, 5.500%, 05/01/35

    843,997         929,285   

Pool #735578, 5.000%, 06/01/35

    1,661,956         1,804,711   

Pool #357829, 6.000%, 06/01/35

    2,011,657         2,181,572   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #357937, 6.000%, 07/01/35

    3,097,183         3,420,404   

Pool #888344, 5.000%, 10/01/35

    4,888,062         5,307,926   

Pool #190363, 5.500%, 11/01/35

    3,879,943         4,256,257   

Pool #AE0115, 5.500%, 12/01/35

    4,709,622         5,199,842   

Pool #745428, 5.500%, 01/01/36

    6,074,146         6,651,419   

Pool #190370, 6.000%, 06/01/36

    7,308,643         8,024,357   

Pool #AI7951, 4.500%, 08/01/36

    1,688,645         1,820,166   

Pool #888173, 5.500%, 11/01/36

    1,735,416         1,903,734   

Pool #888415, 5.000%, 12/01/36

    1,381,992         1,500,699   

Pool #995082, 5.500%, 08/01/37

    2,769,825         3,055,781   

Pool #995023, 5.500%, 08/01/37

    266,904         292,791   

Pool #889529, 6.000%, 03/01/38

    2,459,879         2,748,582   

Pool #995724, 6.000%, 04/01/39

    4,044,601         4,519,294   

Pool #AD0439, 6.000%, 07/01/39

    1,798,041         1,981,759   

Pool #AD7136, 5.000%, 07/01/40

    1,008,185         1,107,386   

Pool #AB1343, 4.500%, 08/01/40

    3,535,523         3,859,122   

Pool #AL0005, 4.500%, 01/01/41

    1,806,242         1,948,616   

Pool #AB2694, 4.500%, 04/01/41

    1,604,009         1,754,000   

Pool #AL1627, 4.500%, 09/01/41

    5,639,184         6,189,416   

Pool #AQ2197, 4.500%, 11/01/42

    1,342,972         1,463,937   
    

 

 

 
       170,206,647   
    

 

 

 

Government National Mortgage Association

    

Pool #AB1392, 3.000%, 08/15/27

    1,225,985         1,306,357   

Pool #799709, 3.000%, 09/15/27

    2,388,601         2,541,459   

Pool #AA6920, 3.000%, 10/15/27

    3,155,172         3,357,087   
 

 

See Notes to Financial Statements.

 

130


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AA6933, 3.000%, 11/15/27

    714,261         759,970   
    

 

 

 
       7,964,873   
    

 

 

 

Total U.S. Government Agency Mortgages (Cost $335,864,089)

       341,370,657   
    

 

 

 

U.S. Treasury Obligations 38.2%

  

U.S. Treasury Bond 4.1%

  

2.750%, 11/15/42

    58,358,000         54,090,571   
    

 

 

 

U.S. Treasury Notes 34.1%

  

0.375%, 11/15/15

    134,629,000         134,839,291   

1.750%, 05/31/16(h)

    90,540,000         94,387,950   

1.000%, 03/31/17

    68,155,000         69,342,396   

0.625%, 08/31/17

    81,330,000         81,247,369   

2.000%, 02/15/23(i)

    71,724,000         72,631,739   
    

 

 

 
       452,448,745   
    

 

 

 

Total U.S. Treasury Obligations (Cost $501,703,944)

       506,539,316   
    

 

 

 

Preferred Stocks 0.8%

  

Banks 0.5%

  

PNC Financial Services Group, Inc., Series P, 6.125%(g)

    84,825         2,347,107   

US Bancorp, Series F, 6.500%(g)

    83,700         2,499,282   

US Bancorp, Series G, 6.000%(g)

    85,175         2,371,272   
    

 

 

 
       7,217,661   
    

 

 

 

Insurance 0.3%

    

Arch Capital Group Ltd., Series C, 6.750%(g)

    48,575         1,352,814   

Reinsurance Group of America, Inc., 6.200%(a)

    71,100         1,936,053   
    

 

 

 
       3,288,867   
    

 

 

 

Real Estate Investment Trust 0.0%(e)

  

Public Storage, Series U, 5.625%(g)

    21,000         541,170   
    

 

 

 

Total Preferred Stocks
(Cost $10,074,244)

       11,047,698   
    

 

 

 

Short-Term Investment 3.9%

  

RidgeWorth Funds Securities Lending Joint Account(j)

    51,812,500         51,812,500   
    

 

 

 

Total Short-Term Investment
(Cost $51,812,500)

       51,812,500   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Money Market Fund 6.2%

  

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(k)

    82,480,896         82,480,896   
    

 

 

 

Total Money Market Fund (Cost $82,480,896)

       82,480,896   
    

 

 

 

Total Investments
(Cost $1,421,442,228) — 109.4%

       1,451,794,853   

Liabilities in excess of other assets — (9.4)%

       (124,591,501
    

 

 

 

Net Assets — 100.0%

     $ 1,327,203,352   
    

 

 

 

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 12.2% of net assets as of March 31, 2013.

 

(c) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(d) The security does not have a stated settlement date and will receive a rate upon settling with the custodian.

 

(e) Less than 0.05% of Net Assets.

 

(f) The Fund’s investment adviser/subadviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees.

 

(g) Security is perpetual in nature and has no stated maturity.

 

(h) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(i) The security or a partial position of the security was on loan as of March 31, 2013. The total value of securities on loan as of March 31, 2013 was $50,797,997.

 

(j) Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before March 31, 2013 (See Note 2(k)).

 

(k) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

MTN     Medium Term Note
REMIC     Real Estate Mortgage Investment Conduit
TBA     To Be Announced. Securities purchased on a forward commitment basis with an appropriate principal amount and no definitive maturity date. The actual principal and maturity date will be determined upon settlement date.
 

 

See Notes to Financial Statements.

 

131


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Total Return Bond Fund — concluded

 

Credit Default Swap Contracts — Buy Protection

At March 31, 2013, the Fund’s open credit default swap contracts were as follows:

 

Underlying Instrument

   Counterparty    Notional
Amount
     Fixed
Rate
    Expiration
Date
     Implied
Credit
Spread*
    Upfront
Payments
Made
(Received)
    Value     Unrealized
Depreciation
 

CDX.NA.HY.20

   CS First Boston      $66,000,000         5.000     06/20/18         4.310     $(1,975,853     $(2,016,800     $(40,947

CDX.NA.HY.20

   JPMorgan      66,000,000         5.000        06/20/18         4.310        (1,934,689     (2,016,800     (82,111

Quest Diagnostics Inc.

   CS First Boston      7,000,000         1.000        06/20/18         1.276        116,626        98,777        (17,849
               

 

 

   

 

 

   

 

 

 
                  $(3,793,916     $(3,934,823     $(140,907
               

 

 

   

 

 

   

 

 

 

As the buyer of protection, the Fund pays periodic fees in return for payment by the seller which is contingent upon an adverse credit event occurring in the underlying issuer or reference entity.

The value column indicates the impact each respective swap contract has on the Fund’s Net Assets at March 31, 2013.

 

* Implied credit spreads serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular reference entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the reference entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

Forward Foreign Currency Contracts

At March 31, 2013, the Fund’s open forward foreign currency contracts were as follows:

 

Currency

  Counterparty   Delivery
Date
    Contract
Amount
in Local
Currency
    Contract
Value in
USD
    Market
Value
    Unrealized
Appreciation/
(Depreciation)
 

Short:

           

Euro

  JPMorgan     05/07/13        22,258,393      $ 28,750,000      $ 28,538,364      $ 211,636   

New Zealand Dollar

  JPMorgan     05/20/13        8,040,811        6,620,000        6,706,748        (86,748
       

 

 

   

 

 

   

 

 

 

Total Short Contracts

        $ 35,370,000      $ 35,245,112      $ 124,888   
       

 

 

   

 

 

   

 

 

 

Long:

           

Brazilian Real

  JPMorgan     05/03/13        13,351,000        6,688,878        6,583,932        (104,946

Chilean Peso

  JPMorgan     04/15/13        9,635,011,250        20,284,594        20,395,630        111,036   

Currency

  Counterparty   Delivery
Date
    Contract
Amount
in Local
Currency
    Contract
Value in
USD
    Market
Value
    Unrealized
Appreciation/
(Depreciation)
 

Mexican Peso (new)

  JPMorgan     04/15/13        209,568,115      $ 16,386,361      $ 16,946,099      $ 559,738   

New Russian Ruble

  JPMorgan     04/15/13        203,857,550        6,723,756        6,541,888        (181,868

South African Rand

  JPMorgan     04/16/13        118,608,065        13,227,911        12,876,107        (351,804

Turkish Lira

  JPMorgan     04/08/13        29,296,302        16,256,757        16,178,314        (78,443
       

 

 

   

 

 

   

 

 

 

Total Long Contracts

        $ 79,568,257      $ 79,521,970      $ (46,287
       

 

 

   

 

 

   

 

 

 
 

 

As of March 31, 2013, the Fund had the following unfunded loan commitment:

 

Borrower

   Unfunded
Commitments
     Unrealized
Appreciation
 

Syniverse Holdings

     $355,000         $2,159   

The commitments are available until the maturity date of the respective security.

 

See Notes to Financial Statements.

 

132


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Ultra-Short Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Asset-Backed Securities 3.5%   

Automobiles 3.5%

  

Ford Credit Auto Owner Trust, Series 2011-A, Cl A4, 1.650%, 05/15/16

    360,000         364,621   

Ford Credit Auto Owner Trust, Series 2012-A, Cl A2, 0.620%, 09/15/14

    121,949         121,999   

Harley-Davidson Motorcycle Trust, Series 2011-2, Cl A2, 0.710%, 05/15/15

    167,067         167,186   

Harley-Davidson Motorcycle Trust, Series 2011-2, Cl A3, 1.110%, 09/15/16

    555,000         558,154   

Honda Auto Receivables Owner Trust, Series 2010-2, Cl A3, 1.340%, 03/18/14

    13,950         13,967   

Hyundai Auto Receivables Trust, Series 2011-B, Cl A4, 1.650%, 02/15/17

    1,065,000         1,083,111   

Hyundai Auto Receivables Trust, Series 2011-C, Cl A4, 1.300%, 02/15/18

    975,000         989,021   

Volkswagen Auto Loan Enhanced Trust, Series 2012-1, Cl A2, 0.610%, 10/20/14

    282,930         283,136   

World Omni Auto Receivables Trust, Series 2011-A, Cl A3, 1.110%, 05/15/15

    302,606         303,529   
    

 

 

 

Total Asset-Backed Securities
(Cost $3,884,143)

       3,884,724   
    

 

 

 

Collateralized Mortgage Obligations 26.4%

  

Agency Collateralized Mortgage Obligations 10.5%

  

Federal Home Loan Mortgage Corporation

    

Series 3598, Cl DA, 2.750%, 11/15/14

    186,953         187,920   

Series 3792, Cl DF, REMIC, 0.603%, 11/15/40(a)

    2,107,064         2,119,660   
    

 

 

 
       2,307,580   
    

 

 

 

Federal National Mortgage Association

    

Series 2005-92, Cl UF, 0.554%, 10/25/25(a)

    290,813         291,450   

Series 2007-109, Cl NF, 0.754%, 12/25/37(a)

    938,926         948,458   

Series 2007-54, Cl KF, 0.514%, 06/25/37(a)

    553,269         552,791   

Series 2009-37, Cl HA, 4.000%, 04/25/19

    94,180         99,815   
     Shares or
Principal
Amount($)
     Value($)  

Agency Collateralized Mortgage Obligations—continued

  

Series 2010-134, Cl BF, 0.634%, 10/25/40(a)

    1,424,034         1,430,177   

Series 2011-M1, Cl FA, 0.654%, 06/25/21(a)

    2,262,569         2,286,969   

Series 2012-M9, Cl ASQ2, 1.513%, 12/25/17

    350,000         356,692   
    

 

 

 
       5,966,352   
    

 

 

 

Government National Mortgage Association

    

Series 2010-66, Cl A, 1.869%, 09/16/27

    138,085         138,744   
    

 

 

 

NCUA Guaranteed Notes

    

Series 2011-R1, Cl 1A, 0.653%, 01/08/20(a)

    836,754         839,240   

Series 2011-R4, Cl 1A, 0.583%, 03/06/20(a)

    1,094,797         1,097,195   

Series 2011-R6, Cl 1A, 0.583%, 05/07/20(a)

    1,066,951         1,072,286   
    

 

 

 
       3,008,721   
    

 

 

 
       11,421,397   
    

 

 

 

Agency Collateralized Planned Amortization Class Mortgage Obligations 0.7%

   

Federal Home Loan Mortgage Corporation

    

Series 3200, Cl FP, 0.403%, 08/15/36(a)

    533,131         531,394   
    

 

 

 

Federal National Mortgage Association

    

Series 2005-42, Cl PF, 0.404%, 05/25/35(a)

    285,973         285,693   
    

 

 

 
       817,087   
    

 

 

 

Commercial Mortgage Backed Securities 14.6%

  

Banc of America Commercial Mortgage, Inc.

    

Series 2004-1, Cl A4, 4.760%, 11/10/39

    324,780         331,952   

Series 2004-3, Cl A5, 5.563%, 06/10/39(a)

    1,287,975         1,340,382   

Series 2004-6, Cl AJ, 4.870%, 12/10/42(a)

    1,535,000         1,622,730   

Series 2005-2, Cl AM, 4.913%, 07/10/43(a)

    80,000         86,351   
    

 

 

 
       3,381,415   
    

 

 

 

Bear Stearns Commercial Mortgage Securities Trust

    

Series 2006-PW14, Cl A4, 5.201%, 12/11/38

    550,000         619,162   
    

 

 

 
 

 

See Notes to Financial Statements.

 

133


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Commercial Mortgage Backed Securities—continued

  

Citigroup Commercial Mortgage Trust

    

Series 2004-C1, Cl A3, 5.251%, 04/15/40(a)

    137,468         137,393   
    

 

 

 

COMM 2005-C6 Mortgage Trust

    

Series 2005-C6, Cl AJ, 5.209%, 06/10/44(a)

    405,000         433,312   
    

 

 

 

Commercial Mortgage Asset Trust

  

  

Series 1999-C1, Cl A4, 6.975%, 01/17/32(a)

    97,341         97,537   
    

 

 

 

Series 1999-C1, Cl B, 7.230%, 01/17/32(a)

    1,460,000         1,468,220   
    

 

 

 
       1,565,757   
    

 

 

 

FDIC Structured Sale Guaranteed Notes

    

Series 2011-C1, Cl A, 1.840%, 04/25/31(a)(b)

    1,287,389         1,301,700   
    

 

 

 

GE Capital Commercial Mortgage Corp.

    

Series 2005-C3, Cl A7A, 4.974%, 07/10/45(a)

    990,000         1,072,137   
    

 

 

 

GMAC Commercial Mortgage Securities, Inc.

    

Series 2004-C3, Cl A4, 4.547%, 12/10/41

    463,143         464,489   
    

 

 

 

JPMorgan Chase Commercial Mortgage Securities Corp.

    

Series 2004-CB8, Cl A4, 4.404%, 01/12/39

    1,508,126         1,547,529   
    

 

 

 

JPMorgan Chase Commercial Mortgage Securities

    

Series 2004-C1, Cl A3, 4.719%, 01/15/38

    835,000         852,047   

Series 2004-CBX, Cl A5, 4.654%, 01/12/37

    1,159,819         1,182,701   

Series 2005-LDP1, Cl A2, 4.625%, 03/15/46

    201,859         203,670   
    

 

 

 
       2,238,418   
    

 

 

 

JPMorgan Chase Commercial Mortgage Securities Corp.

    

Series 2005-LDP3, Cl A4A, 4.936%, 08/15/42(a)

    320,000         345,797   
    

 

 

 

LB Commercial Mortgage Trust

    

Series 1998-C4, Cl G, 5.600%, 10/15/35(b)

    1,366,575         1,393,054   

Morgan Stanley Capital I

    

Series 2004-IQ7, Cl A4, 5.419%, 06/15/38(a)

    1,382,605         1,434,292   
    

 

 

 
       15,934,455   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Whole Loan Collateral Mortgage Obligations 0.6%

  

Banc of America Mortgage Securities, Inc.

    

Series 2003-F, Cl 1A1, 2.998%, 07/25/33(a)

    401,094         396,092   
    

 

 

 

FDIC Structured Sale Guaranteed Notes

    

Series 2010-L2A, Cl A, 3.000%, 09/30/19(b)

    266,183         271,839   
    

 

 

 
       667,931   
    

 

 

 

Total Collateralized Mortgage Obligations
(Cost $28,619,448)

       28,840,870   
    

 

 

 

Corporate Bonds 51.1%

  

Auto Manufacturers 1.9%

    

Daimler Finance North America LLC, 1.000%, 05/24/13(b)

    350,000         349,825   

Daimler Finance North America LLC, 1.250%, 01/11/16(b)

    550,000         551,883   

Volkswagen International Finance, 0.889%, 11/20/14(a)(b)

    1,150,000         1,154,522   
    

 

 

 
       2,056,230   
    

 

 

 

Banks 14.3%

  

American Express Centurion Bank, 0.743%, 11/13/15(a), Series FRN

    1,310,000         1,313,433   

Bank of America Corp., 1.104%, 03/22/16, MTN(a)

    725,000         722,249   

Bank of Montreal, 0.800%, 11/06/15, MTN

    345,000         344,505   

Bank of Montreal, 0.751%, 09/11/15, MTN(a)

    1,395,000         1,403,091   

Bank of New York Mellon Corp. (The), 5.125%, 08/27/13, MTN

    520,000         529,885   

Bank of Nova Scotia, 0.792%, 02/10/14(a)

    405,000         406,727   

BB&T Corp., 1.001%, 04/28/14(a)

    285,000         286,674   

Branch Banking & Trust Co., 0.600%, 09/13/16(a)

    400,000         395,548   

Capital One Financial Corp., 1.454%, 07/15/14(a), Series FRN

    690,000         697,498   

Fifth Third Bank, 0.400%, 05/17/13(a)

    1,485,000         1,484,976   
 

 

See Notes to Financial Statements.

 

134


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Banks—continued

  

Goldman Sachs Group, Inc. (The), 1.289%, 11/21/14, MTN(a)

    1,250,000         1,256,125   

Goldman Sachs Group, Inc. (The), 2.375%, 01/22/18

    260,000         263,544   

JPMorgan Chase & Co., 0.908%, 02/26/16(a)

    725,000         725,422   

JPMorgan Chase & Co., 3.150%, 07/05/16

    670,000         710,391   

Morgan Stanley, 1.538%, 02/25/16(a)

    720,000         723,068   

PNC Funding Corp., 5.400%, 06/10/14

    1,365,000         1,441,035   

Royal Bank of Canada, 1.002%, 10/30/14, MTN(a)

    625,000         630,479   

Toronto-Dominion Bank (The), 0.605%, 07/14/14(a)

    255,000         255,667   

US Bank NA, 0.585%, 10/14/14(a)

    560,000         561,201   

Wells Fargo & Co., 3.676%, 06/15/16

    1,340,000         1,448,959   
    

 

 

 
       15,600,477   
    

 

 

 

Beverages 2.1%

  

Anheuser-Busch InBev Worldwide, Inc., 1.500%, 07/14/14

    750,000         758,634   

Coca-Cola Refreshments USA, Inc., 5.000%, 08/15/13

    1,155,000         1,174,835   

PepsiCo, Inc., 0.497%, 02/26/16(a)

    395,000         395,231   
    

 

 

 
       2,328,700   
    

 

 

 

Chemicals 1.7%

  

Dow Chemical Co. (The), 5.900%, 02/15/15

    405,000         442,665   

Ecolab, Inc., 2.375%, 12/08/14

    485,000         498,168   

Sherwin-Williams Co. (The), 3.125%, 12/15/14

    920,000         957,056   
    

 

 

 
       1,897,889   
    

 

 

 

Commercial Services 0.5%

  

ERAC USA Finance LLC, 1.400%, 04/15/16(b)

    165,000         165,961   

ERAC USA Finance LLC, 2.250%, 01/10/14(b)

    395,000         399,639   
    

 

 

 
       565,600   
    

 

 

 

Computers 0.6%

  

Hewlett-Packard Co., 1.250%, 09/13/13

    625,000         626,227   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Diversified Financial Services 6.0%

  

American Honda Finance Corp., 0.680%, 06/18/14(a)(b)

    975,000         978,345   

Caterpillar Financial Services Corp., 4.625%, 06/01/15

    675,000         730,976   

Caterpillar Financial Services Corp., 6.125%, 02/17/14, MTN

    605,000         635,364   

Citigroup, Inc., 5.500%, 04/11/13

    762,000         762,888   

General Electric Capital Corp., 0.505%, 01/08/16, MTN(a)

    1,250,000         1,241,450   

Hyundai Capital America, 1.625%, 10/02/15(b)

    400,000         402,732   

Merrill Lynch & Co., Inc., 5.300%, 09/30/15, Series B, MTN

    865,000         947,636   

TD AMERITRADE Holding Corp., 4.150%, 12/01/14

    310,000         327,029   

Woodside Finance Ltd., 4.500%, 11/10/14(b)

    455,000         480,209   
    

 

 

 
       6,506,629   
    

 

 

 

Electric 2.6%

  

Constellation Energy Group, Inc., 4.550%, 06/15/15

    410,000         440,693   

Duke Energy Corp., 3.950%, 09/15/14

    480,000         502,137   

NextEra Energy Capital Holdings, Inc., 1.611%, 06/01/14

    285,000         287,678   

NextEra Energy Capital Holdings, Inc., 2.550%, 11/15/13

    500,000         506,047   

Nisource Finance Corp., 5.400%, 07/15/14

    360,000         380,161   

South Carolina Electric & Gas Co., 7.125%, 06/15/13

    690,000         699,106   
    

 

 

 
       2,815,822   
    

 

 

 

Food 1.7%

  

ConAgra Foods, Inc., 1.300%, 01/25/16

    540,000         544,267   

General Mills, Inc., 5.200%, 03/17/15

    485,000         526,858   

Kraft Foods Group, Inc., 1.625%, 06/04/15

    260,000         264,006   

Mondelez International, Inc., 6.750%, 02/19/14

    500,000         526,028   
    

 

 

 
       1,861,159   
    

 

 

 

Gas 0.4%

  

Sempra Energy, 2.000%, 03/15/14

    405,000         409,860   
    

 

 

 
 

 

See Notes to Financial Statements.

 

135


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Healthcare-Products 0.7%

  

St Jude Medical, Inc., 2.200%, 09/15/13

    813,000         819,255   
    

 

 

 

Healthcare-Services 1.5%

  

UnitedHealth Group, Inc., 0.412%, 08/28/14(a)

    535,000         534,823   

UnitedHealth Group, Inc., 4.875%, 04/01/13

    560,000         560,000   

WellPoint, Inc., 5.000%, 12/15/14

    470,000         503,624   
    

 

 

 
       1,598,447   
    

 

 

 

Holding Companies-Diversified 0.5%

  

EnCana Holdings Finance Corp., 5.800%, 05/01/14

    560,000         589,074   
    

 

 

 

Insurance 4.7%

  

Allstate Corp. (The), 5.000%, 08/15/14

    644,000         681,904   

Allstate Life Global Funding Trusts, 5.375%, 04/30/13, MTN

    1,250,000         1,255,021   

Assurant, Inc., 5.625%, 02/15/14

    360,000         374,390   

MetLife, Inc., 2.375%, 02/06/14

    1,260,000         1,280,087   

Metropolitan Life Global Funding I, 1.700%, 06/29/15(b)

    220,000         224,651   

New York Life Global Funding, 4.650%, 05/09/13(b)

    120,000         120,524   

Prudential Covered Trust 2012-1, 2.997%, 09/30/15(b)

    1,093,500         1,140,111   
    

 

 

 
       5,076,688   
    

 

 

 

Internet 0.4%

  

Amazon.com, Inc., 0.650%, 11/27/15

    480,000         479,421   
    

 

 

 

Iron/Steel 0.2%

  

Nucor Corp., 5.000%, 06/01/13

    220,000         221,639   
    

 

 

 

Media 2.8%

  

Comcast Corp., 5.300%, 01/15/14

    125,000         129,789   

Comcast Corp., 5.900%, 03/15/16

    440,000         503,430   

DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 4.750%, 10/01/14

    475,000         502,481   

NBCUniversal Enterprise, Inc., 0.817%, 04/15/16(a)(b)

    400,000         399,724   

Time Warner Cable, Inc., 6.200%, 07/01/13

    305,000         309,065   
     Shares or
Principal
Amount($)
     Value($)  

Media—continued

  

Time Warner Cable, Inc., 7.500%, 04/01/14

    115,000         122,645   

Time Warner Cable, Inc., 8.250%, 02/14/14

    400,000         425,504   

Viacom, Inc., 1.250%, 02/27/15

    645,000         649,534   
    

 

 

 
       3,042,172   
    

 

 

 

Mining 1.8%

  

BHP Billiton Finance USA Ltd., 1.000%, 02/24/15

    225,000         227,175   

Freeport-McMoRan Copper & Gold, Inc., 2.375%, 03/15/18(b)

    510,000         512,131   

Rio Tinto Alcan, Inc., 5.200%, 01/15/14

    1,230,000         1,271,708   
    

 

 

 
       2,011,014   
    

 

 

 

Oil & Gas 0.5%

  

Devon Energy Corp., 5.625%, 01/15/14

    500,000         519,536   
    

 

 

 

Pharmaceuticals 1.0%

  

McKesson Corp., 0.950%, 12/04/15

    185,000         185,506   

McKesson Corp., 6.500%, 02/15/14

    865,000         909,618   
    

 

 

 
       1,095,124   
    

 

 

 

Pipelines 1.4%

  

Enterprise Products Operating LLC, Series M, 5.650%, 04/01/13

    750,000         750,000   

Kinder Morgan Energy Partners LP, 5.125%, 11/15/14

    365,000         390,634   

Spectra Energy Capital LLC, 5.500%, 03/01/14

    400,000         416,643   
    

 

 

 
       1,557,277   
    

 

 

 

Retail 0.6%

  

Nordstrom, Inc., 6.750%, 06/01/14

    615,000         658,049   
    

 

 

 

Telecommunication Services 2.4%

  

BellSouth Corp., 5.200%, 09/15/14

    985,000         1,049,186   

Cellco Partnership/Verizon Wireless Capital LLC, 5.550%, 02/01/14

    1,480,000         1,538,244   
    

 

 

 
       2,587,430   
    

 

 

 

Transportation 0.8%

  

Burlington Northern Santa Fe LLC, 4.300%, 07/01/13

    435,000         439,108   
 

 

See Notes to Financial Statements.

 

136


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Ultra-Short Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Transportation—continued

  

Burlington Northern Santa Fe LLC, 7.000%, 02/01/14

    390,000         410,421   
    

 

 

 
       849,529   
    

 

 

 

Total Corporate Bonds
(Cost $55,612,824)

       55,773,248   
    

 

 

 

Municipal Bond 1.8%

  

New Jersey 1.8%

  

New Jersey Economic Development Authority, RB, BAB, 1.280%, 06/15/13(a)

    1,923,000         1,923,731   
    

 

 

 

Total Municipal Bond
(Cost $1,923,354)

       1,923,731   
    

 

 

 

U.S. Government Agency Mortgages 15.5%

  

Federal Home Loan Mortgage Corporation

    

Pool #1Q1404, 2.703%, 01/01/37(a)

    999,475         1,065,889   

Pool #848852, 2.869%, 08/01/37(a)

    1,639,461         1,749,695   
    

 

 

 
       2,815,584   
    

 

 

 

Federal National Mortgage Association

    

Pool #873590, 5.470%, 04/01/13

    144,622         144,789   

Pool #360500, 6.255%, 09/01/13

    2,900,000         2,954,912   

Pool #555910, 4.924%, 10/01/13

    1,236,936         1,236,779   

Pool #387206, 5.500%, 01/01/15

    1,266,061         1,339,689   

Pool #AD0172, 4.757%, 04/01/16

    220,889         241,228   

Pool #745935, 5.682%, 08/01/16

    1,561,941         1,779,719   

Pool #745889, 5.970%, 08/01/16

    287,200         323,741   

Pool #469408, 0.950%, 11/01/18(a)

    2,785,000         2,783,302   

Pool #635082, 2.249%, 05/01/32(a)

    119,296         126,776   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #995542, 2.632%, 02/01/36(a)

    559,936         596,490   

Pool #AL0968, 2.741%, 12/01/36(a)

    482,923         516,851   

Pool #AD0380, 2.683%, 10/01/37(a)

    670,021         713,182   

Pool #AL0966, 2.633%, 11/01/37(a)

    508,022         540,481   

Pool #AL0967, 2.696%, 04/01/38(a)

    748,389         799,937   
    

 

 

 
       14,097,876   
    

 

 

 

Total U.S. Government Agency Mortgages
(Cost $16,710,260)

       16,913,460   
    

 

 

 

Money Market Fund 3.2%

  

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.01%(c)

    3,501,421         3,501,421   
    

 

 

 

Total Money Market Fund
(Cost $3,501,421)

       3,501,421   
    

 

 

 

Total Investments
(Cost $110,251,450) — 101.5%

   

     110,837,454   

Liabilities in excess of other assets — (1.5)%

       (1,613,160
    

 

 

 

Net Assets — 100.0%

     $ 109,224,294   
    

 

 

 

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2013.

 

(b) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 9.1% of net assets as of March 31, 2013.

 

(c) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

BAB     Build America Bonds
MTN     Medium Term Note
RB     Revenue Bond
REMIC     Real Estate Mortgage Investment Conduit
 

 

See Notes to Financial Statements.

 

137


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

U.S. Government Securities Fund

 

     Shares or
Principal
Amount($)
     Value($)  
U.S. Treasury Obligations 98.7%   

U.S. Treasury Bonds 15.5%

  

7.125%, 02/15/23

    1,281,000         1,905,887   

6.000%, 02/15/26

    296,000         421,338   

4.500%, 02/15/36

    1,565,000         1,987,794   

2.750%, 11/15/42

    1,972,000         1,827,797   
    

 

 

 
       6,142,816   
    

 

 

 

U.S. Treasury Notes 83.2%

  

0.500%, 05/31/13

    900,000         900,668   

0.375%, 03/15/15

    7,550,000         7,567,992   

0.375%, 11/15/15

    6,340,000         6,349,903   

1.500%, 06/30/16

    7,230,000         7,483,614   

1.000%, 03/31/17

    5,131,000         5,220,392   

2.625%, 08/15/20

    4,835,000         5,281,106   
    

 

 

 
         32,803,675   
    

 

 

 

Total U.S. Treasury Obligations
(Cost $38,048,066)

       38,946,491   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  

Money Market Fund 1.7%

  

State Street Institutional Treasury Money Market Fund, Institutional Class, 0.00%(a)

       647,958         647,958   
    

 

 

 

Total Money Market Fund
(Cost $647,958)

       647,958   
    

 

 

 

Total Investments
(Cost $38,696,024) — 100.4%

       39,594,449   

Liabilities in excess of other assets — (0.4)%

       (140,440
    

 

 

 

Net Assets — 100.0%

     $ 39,454,009   
    

 

 

 

 

(a) Rate disclosed, the 7 day net yield, is as of March 31, 2013.
 

 

See Notes to Financial Statements.

 

138


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

U.S. Government Securities Ultra-Short Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  

Asset-Backed Security 0.1%

    

Student Loan Asset Backed Securities 0.1%

  

SMS Student Loan Trust, Series 1999-B, Cl A2, 0.541%, 04/30/29(a)

    2,184,874         2,180,961   
    

 

 

 

Total Asset-Backed Security (Cost $2,179,527)

       2,180,961   
    

 

 

 

Collateralized Mortgage Obligations 28.4%

  

Agency Collateralized Mortgage Obligations 19.4%

  

Federal Home Loan Bank

    

Series Y2-2015, Cl 1, 2.600%, 04/20/15

    3,318,629         3,408,936   
    

 

 

 

Federal Home Loan Mortgage Corporation

    

Series 2840, Cl LJ, 4.250%, 11/15/17

    112,242         112,549   

Series 3000, Cl FG, 0.503%, 07/15/25(a)

    3,772,556         3,778,332   

Series 3065, Cl DF, REMIC, 0.583%, 04/15/35(a)

    43,083,600         43,274,547   

Series 3135, Cl FC, 0.503%, 04/15/26(a)

    3,143,856         3,151,071   

Series 3232, Cl KF, 0.653%, 10/15/36(a)(b)

    5,053,161         5,087,083   

Series 3264, Cl FB, 0.573%, 01/15/37(a)

    2,925,169         2,936,018   

Series 3320, Cl FC, 0.373%, 05/15/37(a)(b)

    7,650,940         7,641,537   

Series 3450, Cl AF, 0.913%, 05/15/38(a)(b)

    2,980,594         3,004,338   

Series 3511, Cl FA, 1.203%, 02/15/39(a)(b)

    12,274,559         12,421,657   

Series 3574, Cl MA, 4.000%, 09/15/21

    3,894,617         4,033,012   

Series 3593, Cl F, 0.702%, 03/15/36(a)

    7,256,806         7,336,072   

Series 3792, Cl DF, REMIC, 0.603%, 11/15/40(a)

    5,414,928         5,447,298   

Series 3812, Cl BE, 2.750%, 09/15/18

    8,170,907         8,444,420   
    

 

 

 
       106,667,934   
    

 

 

 

Federal National Mortgage Association

    

Series 2005-40, Cl FB, 0.454%, 05/25/35(a)

    2,776,566         2,778,090   

Series 2005-92, Cl UF, 0.554%, 10/25/25(a)

    3,461,609         3,469,186   

Series 2006-84, Cl FQ, 0.754%, 09/25/36(a)(b)

    5,883,792         5,936,134   

Series 2007-102, Cl FA, 0.774%, 11/25/37(a)(b)

    7,147,365         7,204,379   

Series 2007-109, Cl NF, 0.754%, 12/25/37(a)(b)

    12,873,220         13,003,909   
     Shares or
Principal
Amount($)
     Value($)  

Agency Collateralized Mortgage Obligations—continued

  

Series 2007-2, Cl FM, 0.454%, 02/25/37(a)

    2,763,806         2,761,371   

Series 2007-30, Cl WF, 0.444%, 04/25/37(a)

    16,062,605         16,071,151   

Series 2007-4, Cl DF, 0.649%, 02/25/37(a)(b)

    2,179,225         2,184,283   

Series 2007-54, Cl KF, 0.514%, 06/25/37(a)

    7,142,203         7,136,032   

Series 2007-88, CI JF, 0.754%, 04/25/37(a)(b)

    9,545,992         9,666,634   

Series 2008-18, Cl FE, 0.934%, 03/25/38(a)(b)

    4,475,112         4,505,301   

Series 2009-37, Cl HA, 4.000%, 04/25/19

    315,242         334,104   

Series 2010-134, Cl BF, 0.634%, 10/25/40(a)

    15,299,318         15,365,319   

Series 2010-42, Cl AF, 0.804%, 05/25/40(a)

    10,036,090         10,117,412   

Series 2011-38, Cl AH, 2.750%, 05/25/20

    6,146,993         6,352,868   

Series 2011-M1, Cl FA, 0.654%, 06/25/21(a)(b)

    48,477,297         49,000,076   

Series 2012-142, Cl AC, REMIC, 2.000%, 12/25/42

    10,000,000         10,302,890   

Series 2012-M11, Cl FA, 0.658%, 08/25/19(a)

    21,463,665         21,581,673   

Series 2012-M9, Cl ASQ2, 1.513%, 12/25/17

    6,770,081         6,899,518   
    

 

 

 
       194,670,330   
    

 

 

 

Government National Mortgage Association

    

Series 2010-66, Cl A, 1.869%, 09/16/27

    4,585,082         4,606,975   

Series 2010-97, Cl A, 2.321%, 01/16/32

    1,749,325         1,771,414   
    

 

 

 
       6,378,389   
    

 

 

 

Mortgage-Linked Amortizing Notes

    

Series 2012-1, Cl A10, 2.060%, 01/15/22

    17,089,797         17,462,987   
    

 

 

 

NCUA Guaranteed Notes

  

Series 2010-R1, Cl 1A, 0.653%, 10/07/20(a)

    13,562,807         13,605,259   

Series 2010-R1, Cl 2A, 1.840%, 10/07/20

    5,541,853         5,606,138   

Series 2010-R2, Cl 1A, 0.573%, 11/06/17(a)

    12,575,717         12,626,774   

Series 2011-C1, Cl 2A, 0.733%, 03/09/21(a)(b)

    27,783,715         27,857,926   

Series 2011-R1, Cl 1A, 0.653%, 01/08/20(a)

    13,060,144         13,098,932   
 

 

See Notes to Financial Statements.

 

139


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Agency Collateralized Mortgage Obligations—continued

  

Series 2011-R2, Cl 1A, 0.603%, 02/06/20(a)

    1,363,907         1,369,022   

Series 2011-R4, Cl 1A, 0.583%, 03/06/20(a)

    32,947,924         33,020,080   

Series 2011-R6, Cl 1A, 0.583%, 05/07/20(a)

    16,081,559         16,161,966   
    

 

 

 
       123,346,097   
    

 

 

 
       451,934,673   
    

 

 

 

Agency Collateralized Planned Amortization Class Mortgage Obligations 3.5%

   

Federal Home Loan Mortgage Corporation

    

Series 3200, Cl FP, 0.403%, 08/15/36(a)(b)

    7,895,848         7,870,116   

Series 3925, Cl FD, REMIC, 0.653%, 07/15/40(a)

    4,128,004         4,155,570   

Series 4080, Cl NF, REMIC, 0.453%, 05/15/32(a)

    15,829,113         15,875,065   
    

 

 

 
       27,900,751   
    

 

 

 

Federal National Mortgage Association

    

Series 2003-73, Cl DF, 0.654%, 10/25/32(a)

    4,097,390         4,115,967   

Series 2005-42, Cl PF, 0.404%, 05/25/35(a)

    4,065,862         4,061,885   

Series 2005-57, Cl EG, 0.504%, 03/25/35(a)

    3,624,676         3,627,906   

Series 2006-123, Cl PF, 0.464%, 01/25/37(a)(b)

    10,306,814         10,308,947   

Series 2006-79, Cl GF, 0.604%, 08/25/36(a)(b)

    22,805,560         22,970,626   

Series 2008-24, Cl PF, REMIC, 0.854%, 02/25/38(a)

    4,544,932         4,597,872   
    

 

 

 
       49,683,203   
    

 

 

 

Government National Mortgage Association

    

Series 2009-69, Cl PV, REMIC, 4.000%, 08/20/39

    2,688,723         2,851,536   
    

 

 

 
       80,435,490   
    

 

 

 

Commercial Mortgage Backed Securities 5.4%

  

FDIC Structured Sale Guaranteed Notes

    

Series 2011-C1, Cl A, 1.840%, 04/25/31(a)(b)(c)

    27,246,074         27,548,941   
    

 

 

 

Federal Home Loan Mortgage Corporation

    

Series K705, Cl A1, 1.626%, 07/25/18

    3,164,809         3,240,375   
     Shares or
Principal
Amount($)
     Value($)  

Commercial Mortgage Backed Securities—continued

  

Series K706, Cl A1, 1.691%, 06/25/18

    2,389,694         2,452,075   

Series KF01, Cl A, 0.554%, 04/25/19(a)

    18,589,719         18,625,950   
    

 

 

 
       24,318,400   
    

 

 

 

Federal National Mortgage Association

    

Series 2010-M4, Cl A1, 2.520%, 06/25/20

    3,880,340         4,057,773   

Series 2012-M13, Cl ASQ1, 1.012%, 08/25/17

    4,259,909         4,290,461   

Series 2012-M17, Cl ASQ2, 0.953%, 11/25/15

    26,000,000         26,228,904   

Series 2013-M1, Cl ASQ2, 1.074%, 11/25/16

    20,000,000         20,194,800   

Series 2013-M2, Cl AFL, 0.554%, 01/25/23(a)

    19,645,824         19,645,824   
    

 

 

 
       74,417,762   
    

 

 

 
       126,285,103   
    

 

 

 

Whole Loan Collateral Mortgage Obligations 0.1%

  

FDIC Structured Sale Guaranteed Notes

    

Series 2010-L2A, Cl A, 3.000%, 09/30/19(c)

    2,322,095         2,371,439   
    

 

 

 

Total Collateralized Mortgage Obligations
(Cost $657,172,903)

       661,026,705   
    

 

 

 

U.S. Government Agency Mortgages 68.4%

  

Federal Home Loan Mortgage Corporation

    

Pool #G14516, 3.500%, 05/01/27(b)

    15,276,668         16,119,128   

Pool #972122, 2.100%, 06/01/33(a)

    42,239         43,365   

Pool #847615, 2.557%, 07/01/33(a)(b)

    7,029,974         7,525,109   

Pool #781028, 2.349%, 11/01/33(a)

    4,225,648         4,500,735   

Pool #1B8683, 2.901%, 04/01/34(a)(b)

    22,326,183         23,849,354   

Pool #848744, 2.811%, 05/01/34(a)

    29,784,319         31,778,574   

Pool #847308, 2.435%, 07/01/34(a)

    290,074         307,299   

Pool #1B1889, 2.870%, 07/01/34(a)(b)

    29,263,011         31,215,464   

Pool #848736, 2.772%, 05/01/35(a)(b)

    48,438,277         51,558,446   
 

 

See Notes to Financial Statements.

 

140


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #848797, 2.769%, 07/01/35(a)

    6,445,218         6,876,254   

Pool #1L0256, 2.381%, 11/01/35(a)(b)

    6,126,464         6,532,197   

Pool #1Q0025, 2.718%, 02/01/36(a)

    5,794,204         6,164,823   

Pool #1H2602, 2.350%, 03/01/36(a)

    6,018,091         6,392,995   

Pool #1N0169, 2.124%, 07/01/36(a)

    779,339         828,671   

Pool #1Q1407, 2.399%, 07/01/36(a)(b)

    17,694,611         18,870,924   

Pool #848747, 2.919%, 07/01/36(a)

    28,772,284         30,876,405   

Pool #848795, 2.827%, 10/01/36(a)

    2,989,473         3,203,005   

Pool #848569, 2.553%, 11/01/36(a)(b)

    24,122,916         25,585,272   

Pool #848133, 3.597%, 11/01/36(a)

    2,225,216         2,375,709   

Pool #1G2585, 3.199%, 12/01/36(a)

    176,247         188,596   

Pool #1Q1404, 2.703%, 01/01/37(a)

    19,128,342         20,399,397   

Pool #1J0331, 2.882%, 03/01/37(a)

    910,481         980,779   

Pool #1Q1195, 2.629%, 05/01/37(a)(b)

    24,933,994         26,621,734   

Pool #848796, 2.794%, 05/01/37(a)(b)

    47,846,052         51,089,376   

Pool #1Q1282, 2.275%, 07/01/37(a)

    5,638,460         6,017,734   

Pool #1N1664, 2.593%, 07/01/37(a)

    5,990,583         6,405,078   

Pool #1J0533, 2.901%, 07/01/37(a)

    34,187         36,650   

Pool #848852, 2.869%, 08/01/37(a)

    35,027,488         37,382,666   

Pool #1Q0652, 2.378%, 02/01/38(a)

    2,966,511         3,152,214   

Pool #1Q1405, 3.829%, 04/01/39(a)

    6,999,036         7,502,880   

Pool #1Q1420, 3.394%, 09/01/39(a)

    27,058,996         28,918,469   

Pool #1B4755, 3.512%, 06/01/40(a)(b)

    8,229,344         8,717,094   
    

 

 

 
       472,016,396   
    

 

 

 

Federal National Mortgage Association

    

Pool #555317, 4.804%, 04/01/13

    310,977         311,324   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #873590, 5.470%, 04/01/13

    356,735         357,145   

Pool #555505, 4.636%, 05/01/13

    176,554         175,660   

Pool #386287, 4.115%, 06/01/13

    8,266,102         8,265,208   

Pool #555648, 4.700%, 06/01/13

    49,979         50,193   

Pool #873612, 5.770%, 06/01/13

    1,307,070         1,308,572   

Pool #386424, 4.190%, 07/01/13

    123,256         123,242   

Pool #461110, 4.616%, 07/01/13

    556,837         553,526   

Pool #386441, 4.220%, 08/01/13

    21,579         21,577   

Pool #735065, 4.491%, 08/01/13

    190,699         190,091   

Pool #360500, 6.255%, 09/01/13

    36,285,000         36,972,066   

Pool #555910, 4.924%, 10/01/13(b)

    5,289,752         5,289,083   

Pool #555806, 5.138%, 10/01/13

    2,378,318         2,364,131   

Pool #555850, 4.813%, 11/01/13

    522,634         524,369   

Pool #725324, 5.416%, 11/01/13

    895,696         895,545   

Pool #AD0192, 4.715%, 01/01/14

    2,874,631         2,874,364   

Pool #386742, 4.870%, 01/01/14

    4,690,326         4,769,409   

Pool #386802, 4.900%, 01/01/14

    4,630,689         4,677,061   

Pool #958216, 5.370%, 01/01/14

    2,918,765         2,951,968   

Pool #958368, 4.710%, 03/01/14

    13,160,516         13,384,301   

Pool #386925, 4.360%, 04/01/14

    422,040         430,905   

Pool #958806, 3.850%, 05/01/14

    943,816         964,790   

Pool #958789, 3.920%, 06/01/14

    8,228,295         8,435,776   

Pool #462846, 4.150%, 07/01/14

    1,797,314         1,850,451   

Pool #AD0173, 3.925%, 08/01/14

    1,647,462         1,680,920   

Pool #735028, 5.754%, 09/01/14

    5,192,828         5,423,173   
 

 

See Notes to Financial Statements.

 

141


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #735387, 4.907%, 04/01/15

    140,881         151,023   

Pool #387352, 5.160%, 04/01/15

    227,671         242,406   

Pool #735953, 4.997%, 08/01/15

    23,408         25,449   

Pool #462011, 5.155%, 08/01/15

    116,205         124,323   

Pool #465949, 2.040%, 09/01/15

    9,706,601         9,765,545   

Pool #465821, 2.900%, 09/01/15

    1,055,402         1,101,873   

Pool #387590, 4.900%, 09/01/15

    1,982,568         2,124,986   

Pool #462018, 5.365%, 09/01/15

    444,131         476,420   

Pool #466111, 2.030%, 10/01/15

    11,310,000         11,411,848   

Pool #465952, 2.040%, 10/01/15

    8,461,101         8,537,477   

Pool #465951, 2.040%, 10/01/15

    6,692,655         6,753,067   

Pool #466109, 2.190%, 10/01/15

    12,895,215         13,306,992   

Pool #466534, 2.040%, 11/01/15

    1,240,000         1,282,262   

Pool #745100, 4.849%, 11/01/15

    7,138,143         7,695,157   

Pool #462085, 5.315%, 11/01/15

    4,725,180         5,210,424   

Pool #387740, 5.245%, 12/01/15

    1,163,492         1,260,603   

Pool #467123, 2.760%, 01/01/16

    12,500,000         13,084,827   

Pool #467141, 2.780%, 01/01/16

    6,902,253         7,233,538   

Pool #467080, 3.090%, 01/01/16

    15,070,000         15,894,378   

Pool #745504, 5.135%, 02/01/16(b)

    11,454,476         12,671,367   

Pool #745530, 5.273%, 04/01/16

    128,473         142,291   

Pool #467607, 3.090%, 05/01/16

    4,996,360         5,294,207   

Pool #745727, 5.261%, 05/01/16

    4,774,763         5,170,396   

Pool #380240, 6.590%, 05/01/16

    864,694         867,231   

Pool #468647, 2.260%, 07/01/16(b)

    17,930,000         18,679,545   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #462237, 5.525%, 07/01/16

    158,730         174,576   

Pool #745764, 5.724%, 07/01/16

    459,040         516,384   

Pool #468795, 2.470%, 08/01/16

    15,200,000         15,948,693   

Pool #463420, 4.050%, 09/01/16

    6,396,318         6,670,257   

Pool #888015, 5.540%, 11/01/16

    528,739         585,347   

Pool #469673, 2.080%, 12/01/16

    5,135,000         5,342,316   

Pool #470340, 2.090%, 01/01/17

    4,569,536         4,757,299   

Pool #735745, 4.992%, 01/01/17

    79,332         83,847   

Pool #874903, 5.520%, 05/01/17

    977,896         1,079,084   

Pool #888969, 5.933%, 11/01/17

    3,092,976         3,510,020   

Pool #467288, 2.800%, 03/01/18

    1,081,486         1,159,052   

Pool #469334, 0.630%, 10/01/18(a)

    12,790,000         12,782,537   

Pool #469482, 1.030%, 10/01/18(a)

    13,420,000         13,411,915   

Pool #469408, 0.950%, 11/01/18(a)(b)

    38,075,000         38,051,783   

Pool #AM1828, 0.500%, 12/01/19(a)

    17,500,000         17,653,433   

Pool #466804, 0.780%, 12/01/20(a)

    13,370,000         13,368,806   

Pool #470556, 0.900%, 12/01/20(a)

    21,070,000         21,182,015   

Pool #469386, 0.820%, 10/01/21(a)(b)

    30,015,000         30,052,297   

Pool #469856, 0.990%, 12/01/21(a)(b)

    17,690,000         17,707,816   

Pool #AM0400, 0.680%, 08/01/22(a)

    17,500,000         17,512,934   

Pool #AM1102, 0.495%, 10/01/22(a)

    26,750,000         26,775,812   

Pool #AM1444, 0.465%, 11/01/22(a)

    13,185,116         13,197,771   

Pool #MA1241, 2.500%, 11/01/22

    14,009,919         14,672,671   

Pool #AM1796, 0.500%, 12/01/22(a)

    19,834,551         19,855,176   

Pool #AM2224, 0.530%, 01/01/23(a)

    15,074,034         15,088,981   
 

 

See Notes to Financial Statements.

 

142


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

U.S. Government Securities Ultra-Short Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AM2292, 0.550%, 01/01/23(a)

    37,669,309         37,969,177   

Pool #AP6765, 2.500%, 09/01/27

    5,122,213         5,319,704   

Pool #AP6769, 2.500%, 09/01/27

    2,439,969         2,534,045   

Pool #AP6771, 2.500%, 10/01/27

    2,966,639         3,081,021   

Pool #MA0949, 3.500%, 01/01/32

    12,783,653         13,651,343   

Pool #635082, 2.249%, 05/01/32(a)

    135,728         144,238   

Pool #604921, 2.199%, 10/01/32(a)

    106,251         112,943   

Pool #671993, 2.482%, 12/01/32(a)

    14,541         14,794   

Pool #AE0044, 1.920%, 03/01/33(a)

    2,652,851         2,863,879   

Pool #689966, 2.260%, 04/01/33(a)

    906,372         966,534   

Pool #555468, 2.522%, 05/01/33(a)

    254,315         270,388   

Pool #711466, 2.880%, 05/01/33(a)

    31,873         31,954   

Pool #733703, 2.729%, 08/01/33(a)

    3,555,902         3,788,836   

Pool #555756, 4.648%, 08/01/33(a)

    2,634,723         2,812,267   

Pool #386320, 4.550%, 10/01/33

    180,920         184,060   

Pool #725126, 2.877%, 12/01/33(a)

    2,367,749         2,506,113   

Pool #793025, 2.064%, 07/01/34(a)

    629,412         673,262   

Pool #AL0222, 2.332%, 07/01/34(a)

    18,521,836         19,677,668   

Pool #801510, 2.033%, 08/01/34(a)

    1,796,150         1,889,516   

Pool #794939, 1.760%, 10/01/34(a)

    28,351         29,286   

Pool #745707, 2.750%, 12/01/34(a)

    13,393,294         14,270,046   

Pool #AD0064, 2.091%, 01/01/35(a)

    16,161,328         17,122,102   

Pool #805338, 2.280%, 01/01/35(a)

    163,828         173,150   

Pool #813718, 2.319%, 01/01/35(a)

    12,548,572         13,411,340   

Pool #809384, 2.340%, 01/01/35(a)

    407,929         436,261   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #809772, 2.334%, 02/01/35(a)(b)

    295,825         310,839   

Pool #820598, 1.951%, 03/01/35(a)

    792,529         832,755   

Pool #814686, 2.101%, 03/01/35(a)

    205,400         210,406   

Pool #735545, 2.479%, 03/01/35(a)

    4,465,293         4,762,255   

Pool #995609, 2.898%, 04/01/35(a)

    3,436,390         3,673,220   

Pool #822302, 2.724%, 05/01/35(a)

    5,534,492         5,917,331   

Pool #821373, 2.607%, 06/01/35(a)

    993,910         1,047,197   

Pool #735766, 2.234%, 07/01/35(a)

    1,170,844         1,262,081   

Pool #735810, 3.216%, 08/01/35(a)

    1,622,501         1,725,521   

Pool #817467, 2.038%, 09/01/35(a)

    4,072,750         4,363,362   

Pool #829334, 2.668%, 09/01/35(a)

    96,690         103,372   

Pool #AL0505, 2.671%, 11/01/35(a)

    15,908,555         16,958,834   

Pool #AD0377, 2.092%, 01/01/36(a)

    3,241,156         3,431,057   

Pool #995540, 2.314%, 01/01/36(a)(b)

    10,902,479         11,626,786   

Pool #888722, 2.561%, 01/01/36(a)

    3,184,144         3,347,921   

Pool #995542, 2.632%, 02/01/36(a)

    6,629,640         7,062,438   

Pool #AL2202, 2.718%, 06/01/36(a)

    15,537,264         16,600,262   

Pool #AL0854, 2.746%, 06/01/36(a)

    9,834,418         10,476,715   

Pool #AL1535, 2.938%, 06/01/36(a)(b)

    25,720,279         27,572,781   

Pool #AE0329, 2.947%, 06/01/36(a)

    2,563,313         2,709,430   

Pool #888859, 2.728%, 10/01/36(a)(b)

    1,193,135         1,261,094   

Pool #745975, 2.270%, 11/01/36(a)

    3,631,769         3,877,225   

Pool #903166, 2.417%, 11/01/36(a)

    3,329,159         3,557,114   

Pool #AA3517, 2.597%, 11/01/36(a)

    9,200,871         9,787,465   

Pool #917290, 2.684%, 11/01/36(a)

    4,205,299         4,481,435   
 

 

See Notes to Financial Statements.

 

143


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

U.S. Government Securities Ultra-Short Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #909313, 2.193%, 12/01/36(a)

    2,022,134         2,141,503   

Pool #AL0968, 2.741%, 12/01/36(a)

    25,267,773         27,042,983   

Pool #905857, 2.849%, 12/01/36(a)

    189,085         202,975   

Pool #906216, 2.562%, 01/01/37(a)

    2,588,001         2,776,400   

Pool #888180, 2.591%, 01/01/37(a)

    3,807,511         4,019,120   

Pool #535990, 2.391%, 04/01/37(a)

    901,321         964,725   

Pool #AA3518, 2.575%, 05/01/37(a)

    11,980,973         12,735,520   

Pool #AL0872, 2.129%, 07/01/37(a)

    5,151,654         5,469,659   

Pool #AL0960, 2.728%, 07/01/37(a)(b)

    26,062,843         27,795,500   

Pool #995059, 2.819%, 08/01/37(a)

    2,433,721         2,608,101   

Pool #AL1306, 2.728%, 09/01/37(a)

    10,828,412         11,545,416   

Pool #AE0427, 2.638%, 10/01/37(a)

    9,537,731         10,203,293   

Pool #AD0380, 2.683%, 10/01/37(a)

    12,745,703         13,566,749   

Pool #AE0332, 2.579%, 11/01/37(a)

    8,603,638         9,135,054   

Pool #AL0966, 2.633%, 11/01/37(a)

    8,063,834         8,579,060   

Pool #AL0967, 2.696%, 04/01/38(a)

    23,712,703         25,346,008   

Pool #AL0270, 3.227%, 08/01/38(a)

    19,918,713         20,972,136   

Pool #AE0107, 3.482%, 10/01/38(a)

    4,864,398         5,218,978   

Pool #AE0279, 3.151%, 11/01/38(a)

    2,054,401         2,199,566   

Pool #AE0057, 3.245%, 02/01/39(a)

    8,141,545         8,705,124   

Pool #AL1303, 3.395%, 02/01/39(a)(b)

    19,506,001         20,563,676   
     Shares or
Principal
Amount($)
     Value($)  

U.S. Government Agency Mortgages—continued

  

Pool #AE0066, 2.294%, 09/01/39(a)(b)

    24,897,500         26,575,984   

Pool #725874, 2.352%, 09/01/39(a)

    108,555         115,432   

Pool #AM2923, 0.054%, 04/05/63(d)

    17,335,000         17,345,834   
    

 

 

 
       1,121,214,926   
    

 

 

 

NCUA Guaranteed Notes Trust 2010-A1

    

Series 2010-A1, Cl A, 0.553%, 12/07/20(a)

    2,683,197         2,690,925   
    

 

 

 

Total U.S. Government Agency Mortgages (Cost $1,570,273,617)

       1,595,922,247   
    

 

 

 

Money Market Fund 3.4%

    

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.01%(e)

    78,785,547         78,785,547   
    

 

 

 

Total Money Market Fund (Cost $78,785,547)

       78,785,547   
    

 

 

 

Total Investments (Cost $2,308,411,594) — 100.3%

   

     2,337,915,460   

Liabilities in excess of other assets — (0.3)%

       (6,002,391
    

 

 

 

Net Assets — 100.0%

     $ 2,331,913,069   
    

 

 

 

 

(a) Variable or floating rate security. Rate disclosed is as of March 31, 2013.
(b) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.
(c) Rule 144A, Section 4(2) or other security which is restricted as to resale to institutional investors. The Fund’s investment adviser/subadviser has deemed this security to be liquid based upon procedures approved by the Board of Trustees. These securities represent 1.3% of net assets as of March 31, 2013.
(d) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.
(e) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

REMIC — Real Estate Mortgage Investment Conduit

 

Open Futures Contracts

At March 31, 2013, the Fund’s open futures contracts was as follows:

 

Description

   Position    Notional
Amount
     Expiration
Month
     Contracts      Unrealized
Depreciation
 

U.S. Treasury 5 Year Note

   Short      $(24,720,632)         June 2013         200         $(90,306
              

 

 

 

 

See Notes to Financial Statements.

 

144


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Virginia Intermediate Municipal Bond Fund

 

     Shares or
Principal
Amount($)
     Value($)  
Municipal Bonds 95.6%     

Alabama 0.4%

    

Birmingham, Series A, GO, 0.000%, 03/01/32(a)(b)

    645,000         595,903   
    

 

 

 

California 2.6%

    

California State, GO, 5.000%, 02/01/20

    1,945,000         2,352,419   

California State, GO, 5.000%, 02/01/38

    1,460,000         1,616,571   
    

 

 

 
       3,968,990   
    

 

 

 

District of Columbia 4.9%

    

Metropolitan Washington D.C. Airports Authority, Airport System, Series A, RB, 5.000%, 10/01/29

    2,500,000         2,888,725   

Metropolitan Washington D.C. Airports Authority, Airport System, Series B, RB, 5.000%, 10/01/26, BHAC

    2,175,000         2,528,894   

Washington D.C. Metropolitan Area Transit Authority, Gross Revenue, Series A, RB, 5.125%, 07/01/32

    2,000,000         2,235,920   
    

 

 

 
       7,653,539   
    

 

 

 

Georgia 1.6%

    

Municipal Electric Authority of Georgia, RB, 5.000%, 01/01/30

    2,155,000         2,485,642   
    

 

 

 

New Jersey 0.7%

    

New Jersey Economic Development Authority, RB, 5.000%, 03/01/28

    1,010,000         1,151,531   
    

 

 

 

North Carolina 0.7%

    

North Carolina State Capital Facilities Finance Agency, Educational Facilities, RB, 5.000%, 05/01/32

    1,030,000         1,107,198   
    

 

 

 

Virginia 84.7%

    

Arlington County, GO, 5.000%, 03/15/15, State Aid Withholding(c)

    4,500,000         4,911,975   

Bedford County Economic Development Authority, Public Facilities Lease, RB, 5.250%, 05/01/24, NATL-RE(c)

    1,890,000         2,123,264   

Fairfax County, Series A, GO, 5.000%, 04/01/20, State Aid Withholding

    2,000,000         2,494,160   
     Shares or
Principal
Amount($)
     Value($)  

Virginia—continued

    

Fairfax County Economic Development Authority, 5.000%, 04/01/36

    1,500,000         1,669,305   

Fairfax County Economic Development Authority, RB, 5.000%, 08/01/22(c)

    3,700,000         4,420,871   

Fairfax County Economic Development Authority, RB, 5.000%, 04/01/31

    1,885,000         2,117,892   

Fairfax County Economic Development Authority, RB, 5.000%, 04/01/32

    1,840,000         2,062,401   

Fairfax County Economic Development Authority, Lease Revenue, RB, 5.000%, 05/15/18

    2,860,000         3,407,318   

Fairfax County Industrial Development Authority, RB, 5.000%, 05/15/37

    1,000,000         1,132,200   

Fauquier County, GO, 5.000%, 07/01/19, Pre-refunded 07/01/2016 @ 100, NATL-RE

    2,100,000         2,403,555   

Greater Richmond Convention Center Authority, Hotel Tax, RB, 5.000%, 06/15/16, NATL-RE

    2,855,000         3,099,788   

Hampton Roads Sanitation District Wastewater, RB, 5.000%, 04/01/23

    1,060,000         1,245,966   

Hampton Roads Sanitation District Wastewater, RB, 5.000%, 04/01/24

    2,425,000         2,836,353   

Hanover County Development Authority, Regional Medical Care Project, RB, 6.375%, 08/15/18, NATL-RE(c)

    4,845,000         5,366,758   

Henrico County Economic Development Authority, RB, 3.000%, 06/01/18

    1,790,000         1,809,242   

Henrico County Economic Development Authority, RB, 5.000%, 06/01/25

    770,000         827,380   

Henrico County Economic Development Authority, RB, 5.000%, 11/01/30(b)

    850,000         950,156   

Henrico County VA Water & Sewer Revenue, RB, 5.000%, 05/01/20

    1,945,000         2,426,076   
 

 

See Notes to Financial Statements.

 

145


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Virginia Intermediate Municipal Bond Fund — continued

 

     Shares or
Principal
Amount($)
     Value($)  

Virginia—continued

    

Isle County Wight, GO, 5.000%, 07/01/37, State Aid Withholding

    1,200,000         1,385,364   

James City County Economic Development Authority, Public Facility Project, RB, 5.000%, 06/15/21, AGM

    2,215,000         2,571,305   

Loudoun County Industrial Development Authority, Series A, RB, 5.000%, 06/01/31

    2,000,000         2,264,760   

Loudoun County Sanitation Authority, Water & Sewage, RB, 5.000%, 01/01/21

    2,460,000         3,084,225   

New Kent County Economic Development Authority, School & Governmental Projects, RB, 5.000%, 02/01/18, AGM

    2,225,000         2,549,516   

Newport News, GO, 5.250%, 07/01/15, State Aid Withholding(c)

    3,000,000         3,326,040   

Norfolk Economic Development Authority, Health Care Facilities, Series B, RB, 5.000%, 11/01/25

    1,000,000         1,183,730   

Norfolk Economic Development Authority, Health Care Facilities, Series B, RB, 5.000%, 11/01/36

    2,000,000         2,256,480   

Pittsylvania County, GO, 5.000%, 03/01/21

    1,000,000         1,201,760   

Pittsylvania County, Series B, GO, 5.000%, 03/01/22

    1,000,000         1,188,040   

Portsmouth, Series D, GO, 5.000%, 07/15/23

    1,250,000         1,499,363   

Richmond, GO, 5.000%, 07/15/24, Pre-refunded 07/15/2016 @ 100, AGM

    1,435,000         1,646,304   

Richmond, Series B, GO, 5.000%, 07/15/18

    2,000,000         2,407,700   

Richmond Industrial Development Authority, Government Facilities, RB, 5.000%, 07/15/18, AMBAC

    1,795,000         2,005,428   

Roanoke, Series B, GO, 5.000%, 02/01/24, Pre-refunded 02/01/2015 @ 101, State Aid Withholding

    2,500,000         2,738,300   
     Shares or
Principal
Amount($)
     Value($)  

Virginia—continued

    

Roanoke Economic Development Authority, Hospital Revenue, RB, 5.000%, 07/01/27

    1,000,000         1,137,190   

Smyth County Industrial Development Authority, Mountain States Health Alliance, RB, 5.000%, 07/01/23

    1,000,000         1,101,760   

Tobacco Settlement Financing Corp., RB, 5.500%, 06/01/26, MSF(c)

    4,420,000         4,714,505   

Virginia Beach, Public Improvement, Series C, GO, 5.000%, 09/15/16

    2,325,000         2,680,190   

Virginia College Building Authority, RB, 5.000%, 09/01/19

    1,000,000         1,221,350   

Virginia College Building Authority, Educational Facilities Project, Series B, RB, 5.000%, 03/01/21

    1,250,000         1,550,125   

Virginia College Building Authority, Educational Facilities Project, Washington & Lee University, RB, 5.375%, 01/01/21, MSF(c)

    3,950,000         4,729,137   

Virginia College Building Authority, Public Higher Educational Financing Program, Series A, RB, 5.000%, 09/01/17, State Aid Withholding(c)

    3,000,000         3,427,800   

Virginia College Building Authority, Public Higher Educational Financing Program, Series A, RB, 5.000%, 09/01/27(c)

    4,000,000         4,676,040   

Virginia Commonwealth University, Health System Authority, RB, 5.000%, 07/01/30

    1,460,000         1,658,399   

Virginia Housing Development Authority, Commonwealth Mortgage, Series A-1, RB, 3.650%, 01/01/18, GO of Authority

    1,205,000         1,317,728   
 

 

See Notes to Financial Statements.

 

146


SCHEDULES OF PORTFOLIO INVESTMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

Virginia Intermediate Municipal Bond Fund — concluded

 

     Shares or
Principal
Amount($)
     Value($)  

Virginia—continued

    

Virginia Housing Development Authority, Commonwealth Mortgage, Series E, RB, 6.000%, 07/01/25, GO of Authority(c)

    2,310,000         2,618,223   

Virginia Public Building Authority Facilities, Series A, RB, 5.000%, 08/01/26

    2,500,000         2,994,500   

Virginia Public Building Authority Facilities, Series B, RB, 5.000%, 08/01/20, ST APPROP(c)

    4,000,000         4,872,760   

Virginia Public School Authority, School Financing, RB, 5.000%, 07/15/26, State Aid Withholding

    2,000,000         2,348,120   

Virginia Resources Authority Clean Water, Revolving Fund, RB, 5.000%, 10/01/16

    2,030,000         2,340,001   

Virginia Resources Authority Infrastructure, Pooled Financing Program, Series A, RB, 5.000%, 11/01/18(c)

    2,775,000         3,375,982   

Virginia Small Business Financing Authority, AMT, RB, 5.000%, 07/01/34

    3,000,000         3,085,500   

Virginia State, Series A, GO, 5.000%, 06/01/19, Pre-refunded 06/01/2014 @ 100(c)

    3,170,000         3,345,491   

Winchester, GO, 5.000%, 11/01/18, Pre-refunded 11/01/2015 @ 100, NATL-RE/FGIC

    2,000,000         2,237,840   
    

 

 

 
       132,045,616   
    

 

 

 

Total Municipal Bonds (Cost $138,987,548)

       149,008,419   
    

 

 

 
     Shares or
Principal
Amount($)
     Value($)  
Money Market Fund 4.0%     

Federated Virginia Municipal Cash Trust, Institutional Share, 0.01%(d)

    6,207,605         6,207,605   
    

 

 

 

Total Money Market Fund (Cost $6,207,605)

       6,207,605   
    

 

 

 

Total Investments
(Cost $145,195,153) — 99.6%

       155,216,024   

Other assets in excess of liabilities — 0.4%

       668,545   
    

 

 

 

Net Assets — 100.0%

     $ 155,884,569   
    

 

 

 

 

(a) Step bond. The rate shown is the rate in effect as of March 31, 2013.

 

(b) All or a portion of this security has been purchased on a when-issued or delayed-delivery basis.

 

(c) All or a portion of this security has been segregated, or otherwise earmarked, in connection with obligations for when-issued or delayed-delivery purchase commitments.

 

(d) Rate disclosed, the 7 day net yield, is as of March 31, 2013.

Investment Abbreviations

 

AGM     Security guaranteed by Assured Guaranty Municipal Corporation
AMBAC     Security guaranteed by American Municipal Bond Assurance Corporation
AMT     Income subject to Alternative Minimum Tax
BHAC     Security guaranteed by Berkshire Hathaway Assurance Corporation
FGIC     Security guaranteed by Financial Guaranty Insurance Company
GO     General Obligation
MSF     Mandatory Sinking Fund
NATL-RE     Reinsurance provided by National Public Finance Guarantee Corporation
RB     Revenue Bond
ST APPROP     State Appropriation
 

 

See Notes to Financial Statements.

 

147


STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Core Bond
Fund
    Corporate
Bond Fund
    Georgia
Tax-Exempt
Bond Fund
    High Grade
Municipal
Bond Fund
    High Income
Fund
 

Assets:

          

Total Investments, at Cost

     $410,204,247        $68,868,736        $147,762,560        $62,460,924        $948,451,274   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments, at Value*

     $419,762,639        $71,872,247        $156,375,192        $67,555,541        $988,052,705   

Cash

     9,043        10,136                      4,984,845   

Interest and Dividends Receivable

     1,865,735        681,427        1,613,315        720,214        14,849,042   

Securities Lending Income Receivable

     3,346        4                      12,222   

Receivable for Capital Shares Issued

     378,319        96,975        72,801        205,468        1,171,205   

Receivable for Investment Securities Sold

     760,017               2,522,781               27,558,131   

Receivable for Investment Securities Sold on a When-issued Basis

                          2,243,120        15,120,916   

Receivable from Investment Adviser

            1,118               4,128        27,330   

Prepaid Expenses and Other Assets

     30,163        25,985        9,675        17,402        39,303   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

     422,809,262        72,687,892        160,593,764        70,745,873        1,051,815,699   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Liabilities:

          

Payable for Investment Securities Purchased

     11,030,099               3,045,614               182,869   

Payable for Investment Securities Purchased on a When-issued Basis

     14,022,370        730,510        4,384,898        4,065,540        50,057,430   

Payable for Capital Shares Redeemed

     1,105,206        465,643        31,656        287,164        1,975,983   

Payable Upon Return of Securities Loaned

                                 70,317,458   

Income Distributions Payable

     147,730        16,072        322,994        92,017        644,861   

Investment Advisory Fees Payable

     82,709        24,569        64,888        27,624        422,456   

Compliance and Fund Services Fees Payable

     8,292        1,275        2,577        1,032        15,660   

Distribution and Service Fees Payable

     7,520        14,808        569        1,426        40,043   

Other Accrued Expenses

     128,811        27,650        21,124        16,919        327,147   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Liabilities

     26,532,737        1,280,527        7,874,320        4,491,722        123,983,907   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Net Assets

     $396,276,525        $71,407,365        $152,719,444        $66,254,151        $927,831,792   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets Consist of:

          

Capital

     $383,175,710        $66,841,808        $145,490,615        $60,937,288        $881,394,310   

Accumulated Net Investment Income (Loss)

     (562,821     (192,954     190,650        (7,143     (350,046

Accumulated Net Realized Gain (Loss) from Investments and Swap Transactions

     4,105,244        1,755,000        (1,574,453     229,389        7,186,097   

Net Unrealized Appreciation on Investments

     9,558,392        3,003,511        8,612,632        5,094,617        39,601,431   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets

     $396,276,525        $71,407,365        $152,719,444        $66,254,151        $927,831,792   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

          

I Shares

     $370,454,729        $51,828,419        $148,153,006        $54,891,567        $784,870,338   

A Shares

     20,686,744        4,020,485        4,566,438        11,362,584        119,005,867   

C Shares

            15,558,461                        

R Shares

     5,135,052                             23,955,587   

Shares Outstanding (unlimited number of shares authorized, no par value)

          

I Shares

     33,192,934        5,571,194        13,743,657        4,535,717        107,235,455   

A Shares

     1,853,720        430,062        422,929        938,526        16,246,538   

C Shares

            1,672,473                        

R Shares

     459,779                             3,271,523   

Net Asset Value and Redemption Price Per Share:

          

I Shares

     $11.16        $9.30        $10.78        $12.10        $7.32   

A Shares

     11.16        9.35        10.80        12.11        7.32   

C Shares(a)

            9.30                        

R Shares

     11.17                             7.32   

Offering Price Per Share (100%/(100%-maximum sales charge x net asset value) of net asset value adjusted to the nearest cent):

          

A Shares

     $11.72        $9.82        $11.34        $12.71        $7.69   

Maximum Sales Charge — A Shares

     4.75     4.75     4.75     4.75     4.75

 

* Investments include securities on loan of $-, $-, $-, $-, $68,530,873, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

148


STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Intermediate
Bond Fund
    Investment Grade
Tax-Exempt
Bond Fund
    Limited
Duration Fund
    Limited-Term
Federal Mortgage
Securities Fund
    North Carolina
Tax-Exempt
Bond Fund
 

Assets:

          

Total Investments, at Cost

     $925,739,489        $978,753,499        $9,318,898        $17,540,584        $49,546,412   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments, at Value*

     $944,880,807        $1,033,537,111        $9,360,817        $17,958,404        $51,729,888   

Cash

     25,186                               

Interest and Dividends Receivable

     4,025,228        10,857,147        1,236        51,070        596,589   

Securities Lending Income Receivable

     11,797                               

Receivable for Capital Shares Issued

     303,500        710,168               394        161   

Receivable for Investment Securities Sold

     12,410,911        13,938,572                      1,188,462   

Receivable for Investment Securities Sold on a When-issued Basis

            12,629,087               1,130,414          

Receivable from Investment Adviser

            1,668        38        4,038          

Prepaid Expenses and Other Assets

     38,525        28,906        4,903        17,578        8,563   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

     961,695,954        1,071,702,659        9,366,994        19,161,898        53,523,663   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Liabilities:

          

Payable for Investment Securities Purchased

            10,711,872               304,531        1,294,337   

Payable for Investment Securities Purchased on a When-issued Basis

     2,740,163        38,384,624               1,643,670        195,639   

Payable for Capital Shares Redeemed

     3,184,050        2,111,703               22,701        2,413   

Payable Upon Return of Securities Loaned

     2,034,885                               

Income Distributions Payable

     676,083        642,520        1,318        3,101        95,379   

Investment Advisory Fees Payable

     201,472        422,791        795        7,523        21,998   

Compliance and Fund Services Fees Payable

     16,829        17,173        158        315        874   

Distribution and Service Fees Payable

     2,147        9,409               5,530        116   

Other Accrued Expenses

     214,448        273,513        7,314        12,673        11,688   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Liabilities

     9,070,077        52,573,605        9,585        2,000,044        1,622,444   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Net Assets

     $952,625,877        $1,019,129,054        $9,357,409        $17,161,854        $51,901,219   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets Consist of:

          

Capital

     $920,060,378        $959,176,509        $10,775,285        $29,015,517        $48,593,963   

Accumulated Net Investment (Loss)

     (1,172,775     (227,700     (1,856     (19,256     (63,078

Accumulated Net Realized Gain (Loss) from Investments Transactions

     14,596,956        5,396,633        (1,457,939     (12,252,227     1,186,858   

Net Unrealized Appreciation on Investments

     19,141,318        54,783,612        41,919        417,820        2,183,476   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets

     $952,625,877        $1,019,129,054        $9,357,409        $17,161,854        $51,901,219   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

          

I Shares

     $942,715,325        $982,171,456        $9,357,409        $8,851,318        $50,991,110   

A Shares

     9,878,109        36,957,598               2,271,137        910,109   

C Shares

                          6,039,399          

R Shares

     32,443                               

Shares Outstanding (unlimited number of shares authorized, no par value)

          

I Shares

     91,479,332        78,869,408        952,356        793,069        4,774,969   

A Shares

     958,195        2,964,231               203,912        85,439   

C Shares

                          541,132          

R Shares

     3,148                               

Net Asset Value and Redemption Price Per Share:

          

I Shares

     $10.31        $12.45        $9.83        $11.16        $10.68   

A Shares

     10.31        12.47               11.14        10.65   

C Shares(a)

                          11.16          

R Shares

     10.30 (b)                             

Offering Price Per Share (100%/(100%-maximum sales charge x net asset value) of net asset value adjusted to the nearest cent):

          

A Shares

     $10.82        $13.09        $—        $11.43        $11.18   

Maximum Sales Charge — A Shares

     4.75     4.75            2.50     4.75

 

* Investments include securities on loan of $1,990,752, $-, $-, $-, $-, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

(b) Net asset value calculations reflect fractional shares and dollar amounts.

 

See Notes to Financial Statements.

 

149


STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Seix Floating
Rate High
Income Fund
    Seix High Yield
Fund
    Short-Term
Bond Fund
    Short-Term
Municipal
Bond Fund
    Short-Term
U.S. Treasury
Securities Fund
 

Assets:

          

Total Investments, at Cost

     $6,680,548,137        $1,873,954,199        $81,661,226        $15,736,857        $12,011,003   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments, at Value*

     $6,752,924,242        $1,992,285,818        $83,022,282        $15,858,907        $12,115,453   

Cash

            6,851,076        174                 

Interest and Dividends Receivable

     21,615,559        30,226,228        406,108        135,686        60,952   

Securities Lending Income Receivable

            18,359                        

Receivable for Capital Shares Issued

     26,779,440        2,431,253        39,467        284        46,688   

Receivable for Investment Securities Sold

     5,462,581        6,627,398        1,444,886                 

Receivable for Investment Securities Sold on a When-issued Basis

     35,015,672        11,920,717                        

Receivable from Investment Adviser

                          6,558        5,697   

Prepaid Expenses and Other Assets

     78,042        61,568        29,420        16,276        24,375   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

     6,841,875,536        2,050,422,417        84,942,337        16,017,711        12,253,165   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Liabilities:

          

Payable for Investment Securities Purchased

     23,047,095               419,099        498,268          

Payable for Investment Securities Purchased on a When-issued Basis

     877,780,857        70,074,077        1,246,363        689,606          

Payable for Capital Shares Redeemed

     7,578,683        5,396,642        263,514               12,931   

Payable Upon Return of Securities Loaned

            99,836,835                        

Income Distributions Payable

     9,028,543        6,094,936        76,782        589        568   

Investment Advisory Fees Payable

     1,964,642        673,381        29,372        4,287        3,660   

Compliance and Fund Services Fees Payable

     81,439        35,126        2,039        224        221   

Distribution and Service Fees Payable

     55,084        16,512        2,444        465        3,204   

Other Accrued Expenses

     1,959,452        439,507        24,157        8,715        10,636   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Liabilities

     921,495,795        182,567,016        2,063,770        1,202,154        31,220   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Net Assets

     $5,920,379,741        $1,867,855,401        $82,878,567        $14,815,557        $12,221,945   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets Consist of:

          

Capital

     $5,901,509,869        $1,722,093,646        $83,633,508        $14,618,270        $12,101,215   

Accumulated Net Investment Income (Loss)

     23,943        (407,000     (1,347     (1,452     (100

Accumulated Net Realized Gain (Loss) from Investments, Futures and Swap Transactions

     (53,530,176     27,837,136        (2,114,650     76,689        16,380   

Net Unrealized Appreciation on Investments

     72,376,105        118,331,619        1,361,056        122,050        104,450   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets

     $5,920,379,741        $1,867,855,401        $82,878,567        $14,815,557        $12,221,945   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

          

I Shares

     $5,780,846,613        $1,792,767,681        $78,383,970        $11,121,272        $3,339,159   

A Shares

     99,040,042        72,702,612        2,069,431        3,694,285        2,106,723   

C Shares

     40,493,086               2,425,166               6,776,063   

R Shares

            2,385,108                        

Shares Outstanding (unlimited number of shares authorized, no par value)

          

I Shares

     638,033,161        174,665,802        7,838,129        1,111,400        337,387   

A Shares

     10,931,479        7,245,058        206,380        369,220        213,111   

C Shares

     4,468,148               241,966               686,037   

R Shares

            232,508                        

Net Asset Value and Redemption Price Per Share:

          

I Shares

     $9.06        $10.26        $10.00        $10.01        $9.90   

A Shares

     9.06        10.03        10.03        10.01        9.89   

C Shares(a)

     9.06               10.02               9.88   

R Shares

            10.26                        

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) of net asset value adjusted to the nearest cent):

          

A Shares

     $9.29        $10.53        $10.29        $10.27        $10.14   

Maximum Sales Charge — A Shares

     2.50     4.75     2.50     2.50     2.50

 

* Investments include securities on loan of $-, $97,487,700, $ -, $ -, $-, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

150


STATEMENTS OF ASSETS AND LIABILITIES

 

RIDGEWORTH FUNDS    March 31, 2013

 

    Total Return
Bond Fund
    Ultra-Short
Bond Fund
    U.S. Government
Securities Fund
    U.S. Government
Securities
Ultra-Short
Bond Fund
    Virginia
Intermediate
Municipal
Bond Fund
 

Assets:

         

Total Investments, at Cost

    $1,421,442,228        $110,251,450        $38,696,024        $2,308,411,594        $145,195,153   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments, at Value*

    $1,451,794,853        $110,837,454        $39,594,449        $2,337,915,460        $155,216,024   

Cash

    223,030        28                        

Cash Collateral on Deposit at Broker

                         1,451,308          

Interest and Dividends Receivable

    6,379,298        545,115        123,480        4,638,778        1,701,885   

Appreciated Swap Contracts, at Value

    98,777                               

Securities Lending Income Receivable

    15,301                               

Receivable for Capital Shares Issued

    3,158,013        4,393        79,239        1,177,912        27,575   

Receivable for Investment Securities Sold

    4,365,450        109,704               8,776,397          

Receivable for Investment Securities Sold on a When-issued Basis

    1,657,312                      93,463,281          

Unrealized Appreciation on Forward Foreign Currency Contracts

    882,410                               

Receivable from Investment Adviser

    111,536               2,128                 

Prepaid Expenses and Other Assets

    65,955        16,387        17,661        106,292        9,842   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

    1,468,751,935        111,513,081        39,816,957        2,447,529,428        156,955,326   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Liabilities:

         

Payable for Investment Securities Purchased

    24,998,168        1,807,376        290,420                 

Payable for Investment Securities Purchased on a When-issued Basis

    55,739,104                      110,336,459        586,918   

Payable for Credit Default Swap Contracts, at Value

    1,622,936                               

Depreciated Swap Contracts, at Value

    4,033,600                               

Payable for Capital Shares Redeemed

    1,383,103        394,672        28,673        3,676,550        63,620   

Payable Upon Return of Securities Loaned

    51,812,500                               

Interest Payable On Open Swap Contracts

    222,333                               

Income Distributions Payable

    200,706        40,740        1,544        335,020        327,998   

Unrealized Depreciation on Forward Foreign Currency Contracts

    803,809                               

Unrealized Depreciation on Futures Contracts

                         90,306          

Investment Advisory Fees Payable

    270,512        19,902        16,757        372,446        65,887   

Compliance and Fund Services Fees Payable

    22,710        1,754        681        40,306        2,610   

Distribution and Service Fees Payable

    41,034               2,063               1,389   

Other Accrued Expenses

    398,068        24,343        22,810        765,272        22,335   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Liabilities

    141,548,583        2,288,787        362,948        115,616,359        1,070,757   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Net Assets

    $1,327,203,352        $109,224,294        $39,454,009        $2,331,913,069        $155,884,569   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets Consist of:

         

Capital

    $1,293,845,555        $111,898,069        $38,558,361        $2,316,317,772        $144,459,051   

Accumulated Net Investment Income (Loss)

    (1,397,738     (2,449     (78     (3,259     19,519   

Accumulated Net Realized Gain (Loss) from Investments, Futures, Swap and Foreign Currency Transactions

    4,465,216        (3,257,330     (2,699     (13,815,004     1,385,128   

Net Unrealized Appreciation on Investments, Futures, Swaps and Foreign Currencies

    30,290,319        586,004        898,425        29,413,560        10,020,871   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets

    $1,327,203,352        $109,224,294        $39,454,009        $2,331,913,069        $155,884,569   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

         

I Shares

    $1,204,227,672        $109,224,294        $35,866,215        $2,331,913,069        $144,888,867   

A Shares

    50,278,665               1,665,085               10,995,702   

C Shares

                  1,922,709                 

R Shares

    72,697,015                               

Shares Outstanding (unlimited number of shares authorized, no par value)

         

I Shares

    111,574,534        10,944,063        4,253,255        229,319,506        13,749,867   

A Shares

    4,509,880               197,449               1,043,784   

C Shares

                  228,009                 

R Shares

    6,734,262                               

Net Asset Value and Redemption Price Per Share:

         

I Shares

    $10.79        $9.98        $8.43        $10.17        $10.54   

A Shares

    11.15               8.43               10.53   

C Shares(a)

                  8.43                 

R Shares

    10.80                               

Offering Price per Share (100%/(100%-maximum sales charge x net asset value) of net asset value adjusted to the nearest cent):

         

A Shares

    $11.71        $—        $8.85        $—        $11.06   

Maximum Sales Charge — A Shares

    4.75            4.75            4.75

 

* Investments include securities on loan of $50,797,997, $-, $-, $-, $-, respectively.

 

(a) Redemption price per share varies based on length of time shares are held.

 

See Notes to Financial Statements.

 

151


STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Year Ended March 31, 2013

 

     Core Bond
Fund
    Corporate
Bond Fund
    Georgia
Tax-Exempt
Bond Fund
    High Grade
Municipal
Bond Fund
    High Income
Fund
 

Investment Income:

          

Interest Income

     $8,138,453        $3,135,110        $5,742,766        $1,947,496        $56,659,312   

Dividend Income

     252,381        223,907        2,560        2,995        568,787   

Net Income from Securities Lending

     4,791        21                      250,780   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Income

     8,395,625        3,359,038        5,745,326        1,950,491        57,478,879   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Expenses:

          

Investment Advisory Fees

     1,226,891        339,706        794,935        292,802        4,501,376   

Administration Fees

     44,718        7,728        14,008        5,169        73,967   

Fund Accounting Fees

     50,223        8,419        14,797        5,345        77,504   

Transfer Agency Fees

     75,804        60,542        11,442        11,139        289,259   

Compliance & Fund Services Fees

     34,584        5,969        10,767        3,948        56,097   

Distribution and Service Fees — A Shares

     67,024        16,708        6,768        13,856        339,213   

Distribution and Service Fees — C Shares

            181,369                        

Distribution and Service Fees — R Shares

     28,191                             107,776   

Shareholder Servicing Fees — I Shares

     259,981        17,192        1,589        10,028        471,479   

Shareholder Servicing Fees — A Shares

     15,596        32        225        1,471        204,602   

Shareholder Servicing Fees — R Shares

     836                             16,455   

Custodian Fees

     20,049        9,095        8,456        7,719        42,559   

Printing Fees

     31,457        6,049        5,306        3,429        98,681   

Registration Fees

     50,576        41,375        15,290        31,943        74,243   

Trustee Fees

     23,414        3,967        7,216        2,613        37,804   

Other Fees

     43,550        11,826        17,046        10,417        73,511   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Expenses

     1,972,894        709,977        907,845        399,879        6,464,526   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

     (1,227     (10,691            (17,205     (85,675

Less: Custodian Credits (Note 3)

     (82     (44     (24            (146
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Expenses

     1,971,585        699,242        907,821        382,674        6,378,705   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Investment Income

     6,424,040        2,659,796        4,837,505        1,567,817        51,100,174   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments and Swaps:

          

Net Realized Gain (Loss) from:

          

Investment Transactions

     9,783,817        4,214,550        4,725,574        1,043,022        9,713,834   

Credit Default Swap Contracts

                                 (5,555

Net Change in Unrealized Appreciation (Depreciation) on:

          

Investments

     (4,439     (1,384,022     (1,459,254     1,055,712        41,072,116   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments and Swaps

     9,779,378        2,830,528        3,266,320        2,098,734        50,780,395   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

     $16,203,418        $5,490,324        $8,103,825        $3,666,551        $101,880,569   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

152


STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Year Ended March 31, 2013

 

     Intermediate
Bond Fund
    Investment Grade
Tax-Exempt
Bond Fund
    Limited
Duration Fund
    Limited-Term
Federal Mortgage
Securities Fund
    North Carolina
Tax-Exempt
Bond Fund
 

Investment Income:

          

Interest Income

     $21,409,910        $26,673,001        $90,716        $269,561        $1,816,718   

Dividend Income

     782,572        50,977               2        1,021   

Net Income from Securities Lending

     37,575                               
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Income

     22,230,057        26,723,978        90,716        269,563        1,817,739   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Expenses:

          

Investment Advisory Fees

     2,716,307        5,000,743        11,275        131,812        275,644   

Administration Fees

     102,292        93,545        1,026        2,399        4,855   

Fund Accounting Fees

     109,863        99,444        1,068        2,506        5,157   

Transfer Agency Fees

     94,587        133,407        1,415        16,095        5,509   

Compliance & Fund Services Fees

     78,331        71,435        816        1,893        3,713   

Distribution and Service Fees — A Shares

     29,804        109,787               5,976        1,097   

Distribution and Service Fees — C Shares

                          66,827          

Distribution and Service Fees — R Shares

     311                               

Shareholder Servicing Fees — I Shares

     541,075        761,582               5,839        364   

Shareholder Servicing Fees — A Shares

     9,336        7,543               570        40   

Shareholder Servicing Fees — R Shares

     656                               

Custodian Fees

     28,249        22,604        4,806        8,213        6,755   

Printing Fees

     59,833        43,999        1,349        3,046        2,214   

Registration Fees

     49,059        47,296        8,851        41,218        12,840   

Trustee Fees

     53,074        47,943        547        1,294        2,484   

Other Fees

     91,554        81,662        6,328        8,737        10,113   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Expenses

     3,964,331        6,520,990        37,481        296,425        330,785   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

     (580     (53,503     (3,221     (49,640       

Less: Custodian Credits (Note 3)

     (33     (127                     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Expenses

     3,963,718        6,467,360        34,260        246,785        330,785   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Investment Income

     18,266,339        20,256,618        56,456        22,778        1,486,954   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments:

          

Net Realized Gain from:

          

Investment Transactions

     37,775,410        19,891,403        39,606        1,250,502        1,975,936   

Net Change in Unrealized Appreciation (Depreciation) on:

          

Investments

     (19,448,314     8,822,011        19,238        (599,719     (929,051
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments

     18,327,096        28,713,414        58,844        650,783        1,046,885   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

     $36,593,435        $48,970,032        $115,300        $673,561        $2,533,839   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

153


STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Year Ended March 31, 2013

 

     Seix Floating
Rate High
Income Fund
    Seix High Yield
Fund
    Short-Term
Bond Fund
    Short-Term
Municipal
Bond Fund
    Short-Term
U.S. Treasury
Securities Fund
 

Investment Income:

          

Interest Income

     $240,277,430        $143,314,404        $4,631,184        $124,540        $169,926   

Dividend Income

     332,049        611,197        1,292        702          

Net Income from Securities Lending

            496,932                        
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Income

     240,609,479        144,422,533        4,632,476        125,242        169,926   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Expenses:

          

Investment Advisory Fees

     17,354,737        8,759,327        932,940        40,227        59,000   

Administration Fees

     382,363        189,231        21,225        1,034        1,455   

Fund Accounting Fees

     379,240        202,433        25,103        880        1,587   

Transfer Agency Fees

     1,732,704        1,056,464        20,720        5,686        11,556   

Compliance & Fund Services Fees

     289,357        146,293        16,521        847        1,143   

Distribution and Service Fees — A Shares

     158,057        155,335        4,544        5,335        5,328   

Distribution and Service Fees — C Shares

     322,765               26,269               43,152   

Distribution and Service Fees — R Shares

            11,864                        

Shareholder Servicing Fees — I Shares

     2,538,587        309,125        7,375        716        4,368   

Shareholder Servicing Fees — A Shares

     822,418        8,516        1,264        29        891   

Shareholder Servicing Fees — R Shares

            182                        

Custodian Fees

     606,867        85,091        14,085        6,398        6,642   

Printing Fees

     256,254        108,783        7,172        8,329        2,523   

Registration Fees

     81,111        57,247        42,185        30,700        39,496   

Trustee Fees

     192,042        99,052        11,766        527        764   

Other Fees

     382,702        163,629        22,045        7,125        7,612   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Expenses

     25,499,204        11,352,572        1,153,214        107,833        185,517   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

                   (2,491     (36,651     (56,666

Less: Custodian Credits (Note 3)

     (1,031     (571     (92     (14       
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Expenses

     25,498,173        11,352,001        1,150,631        71,168        128,851   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Investment Income

     215,111,306        133,070,532        3,481,845        54,074        41,075   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments, Futures and Swaps:

          

Net Realized Gain (Loss) from:

          

Investment Transactions

     18,424,010        54,792,401        4,753,708        585,879        36,023   

Futures Contracts

                   (293,028              

Credit Default Swap Contracts

            (1,169,396                     

Net Change in Unrealized Appreciation (Depreciation) on:

          

Investments

     78,561,655        63,484,472        (3,520,601     (323,208     (92,516

Futures Contracts

                   (94,925              
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments, Futures and Swaps

     96,985,665        117,107,477        845,154        262,671        (56,493
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

     $312,096,971        $250,178,009        $4,326,999        $316,745        $(15,418
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

154


STATEMENTS OF OPERATIONS

 

RIDGEWORTH FUNDS    For the Year Ended March 31, 2013

 

     Total Return
Bond Fund
    Ultra-Short
Bond Fund
    U.S. Government
Securities Fund
    U.S. Government
Securities
Ultra-Short
Bond Fund
    Virginia
Intermediate
Municipal
Bond Fund
 

Investment Income:

          

Interest Income

     $25,510,787        $1,514,027        $521,566        $15,050,146        $5,608,150   

Dividend Income

     638,427        723        1        38,578        780   

Net Income from Securities Lending

     24,949                               
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Investment Income

     26,174,163        1,514,750        521,567        15,088,724        5,608,930   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Expenses:

          

Investment Advisory Fees

     3,020,044        254,171        214,774        4,304,921        823,891   

Administration Fees

     114,561        10,513        3,909        210,054        14,506   

Fund Accounting Fees

     121,929        11,007        4,042        223,741        15,295   

Transfer Agency Fees

     292,103        29,012        13,757        401,314        17,300   

Compliance & Fund Services Fees

     87,127        8,063        3,044        160,534        11,143   

Distribution and Service Fees — A Shares

     132,041               5,214               17,412   

Distribution and Service Fees — C Shares

                   22,059                 

Distribution and Service Fees — R Shares

     233,913                               

Shareholder Servicing Fees — I Shares

     906,628        3,545        43,792        2,514,443        2,197   

Shareholder Servicing Fees — A Shares

     56,553               359               381   

Shareholder Servicing Fees — R Shares

     106,621                               

Custodian Fees

     77,083        11,647        6,651        52,148        8,306   

Printing Fees

     82,848        5,390        3,188        120,482        6,677   

Registration Fees

     81,084        25,432        40,137        93,631        18,652   

Trustee Fees

     58,070        5,503        2,026        107,430        7,471   

Other Fees

     106,570        14,915        9,632        181,776        18,080   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Expenses

     5,477,175        379,198        372,584        8,370,474        961,311   

Less: Investment Advisory Fees Waived/Expenses Reimbursed

     (134,555            (36,932              

Less: Custodian Credits (Note 3)

     (42     (42            (755     (39
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Expenses

     5,342,578        379,156        335,652        8,369,719        961,272   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Investment Income

     20,831,585        1,135,594        185,915        6,719,005        4,647,658   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments, Futures, Swaps and Foreign Currencies:

          

Net Realized Gain (Loss) from:

          

Investment and Foreign Currency Transactions

     21,622,183        607,189        767,150        17,304,857        3,083,203   

Futures Contracts

            (40,779            (2,321,948       

Credit Default Swap Contracts

     (6,213,713                            

Forward Foreign Currency Contracts

     6,198,428                               

Net Change in Unrealized Appreciation (Depreciation) on:

          

Investments and Foreign Currencies

     2,432,638        (6,011     30,778        2,282,904        (1,915,193

Futures Contracts

                          (90,306       

Credit Default Swap Contracts

     (83,434                            

Forward Foreign Currency Contracts

     214,851                               
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Realized and Unrealized Gain (Loss) on Investments, Futures, Swaps and Foreign Currencies

     24,170,953        560,399        797,928        17,175,507        1,168,010   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

     $45,002,538        $1,695,993        $983,843        $23,894,512        $5,815,668   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

155


STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Core Bond Fund     Corporate Bond Fund     Georgia Tax-Exempt Bond Fund  
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income

  $ 6,424,040      $ 7,462,125      $ 2,659,796      $ 2,740,094      $ 4,837,505      $ 5,460,398   

Net Realized Gain

    9,783,817        24,110,179        4,214,550        4,073,160        4,725,574        1,263,832   

Net Change in Unrealized Appreciation (Depreciation)

    (4,439     (2,301,238     (1,384,022     (707,485     (1,459,254     11,352,043   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    16,203,418        29,271,066        5,490,324        6,105,769        8,103,825        18,076,273   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

    (8,053,233     (7,644,796     (2,056,712     (2,128,601     (4,702,696     (5,316,936

A Shares

    (319,708     (400,767     (170,577     (95,460     (135,016     (143,422

C Shares

                  (433,099     (515,969              

R Shares

    (72,608     (107,688                            

Net Realized Gains:

           

I Shares

    (5,872,395     (18,964,864     (2,186,344     (3,859,873              

A Shares

    (259,548     (1,163,981     (191,370     (214,633              

C Shares

                  (646,870     (1,265,689              

R Shares

    (64,572     (357,204                            
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (14,642,064     (28,639,300     (5,684,972     (8,080,225     (4,837,712     (5,460,358
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    (71,898,387     144,315,144        (8,242,894     296,786        (629,852     (28,084,239
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    (70,337,033     144,946,910        (8,437,542     (1,677,670     2,636,261        (15,468,324
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    466,613,558        321,666,648        79,844,907        81,522,577        150,083,183        165,551,507   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 396,276,525      $ 466,613,558      $ 71,407,365      $ 79,844,907      $ 152,719,444      $ 150,083,183   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (562,821   $ (562,787   $ (192,954   $ (214,429   $ 190,650      $ 190,857   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

156


STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    High Grade Municipal
Bond Fund
    High Income Fund     Intermediate Bond Fund  
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income

  $ 1,567,817      $ 1,660,145      $ 51,100,174      $ 39,781,312      $ 18,266,339      $ 25,199,528   

Net Realized Gain (Loss)

    1,043,022        2,029,706        9,708,279        (2,461,098     37,775,410        50,404,145   

Net Change in Unrealized Appreciation (Depreciation)

    1,055,712        2,771,486        41,072,116        (20,230,956     (19,448,314     4,126,410   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    3,666,551        6,461,337        101,880,569        17,089,258        36,593,435        79,730,083   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

    (1,324,687     (1,428,088     (42,786,055     (32,588,069     (18,296,426     (24,939,559

A Shares

    (243,149     (232,314     (6,857,685     (6,489,630     (162,141     (231,737

R Shares

                  (1,256,539     (1,187,832     (698     (10,885

Net Realized Gains:

           

I Shares

    (1,469,635     (95,027            (4,443,437     (30,465,039     (37,936,794

A Shares

    (275,382     (16,625            (874,159     (344,694     (412,228

R Shares

                         (178,289     (775     (22,701
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (3,312,853     (1,772,054     (50,900,279     (45,761,416     (49,269,773     (63,553,904
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    14,781,785        (9,179,229     180,698,581        243,912,524        (240,973,715     (129,640,910
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    15,135,483        (4,489,946     231,678,871        215,240,366        (253,650,053     (113,464,731
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    51,118,668        55,608,614        696,152,921        480,912,555        1,206,275,930        1,319,740,661   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 66,254,151      $ 51,118,668      $ 927,831,792      $ 696,152,921      $ 952,625,877      $ 1,206,275,930   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (7,143   $ (7,124   $ (350,046   $ (351,835   $ (1,172,775   $ (1,845,583
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

157


STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Investment Grade Tax-Exempt Bond
Fund
    Limited Duration Fund     Limited-Term Federal Mortgage
Securities Fund
 
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income

  $ 20,256,618      $ 21,754,560      $ 56,456      $ 132,390      $ 22,778      $ 379,838   

Net Realized Gain

    19,891,403        31,174,794        39,606        27,008        1,250,502        1,648,219   

Net Change in Unrealized Appreciation (Depreciation)

    8,822,011        38,646,859        19,238        (61,977     (599,719     830,750   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    48,970,032        91,576,213        115,300        97,421        673,561        2,858,807   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

    (19,608,181     (21,017,875     (41,881     (112,879     (274,801     (664,764

A Shares

    (651,933     (736,816                   (42,708     (126,463

C Shares

                                (41,189     (86,322

Net Realized Gains:

           

I Shares

    (30,115,855     (6,670,907                            

A Shares

    (1,134,849     (268,548                            
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (51,510,818     (28,694,146     (41,881     (112,879     (358,698     (877,549
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    33,200,723        (173,273,979     (6,718,359     (5,865,103     (21,495,655     (4,458,707
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    30,659,937        (110,391,912     (6,644,940     (5,880,561     (21,180,792     (2,477,449
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    988,469,117        1,098,861,029        16,002,349        21,882,910        38,342,646        40,820,095   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 1,019,129,054      $ 988,469,117      $ 9,357,409      $ 16,002,349      $ 17,161,854      $ 38,342,646   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (227,700   $ (224,204   $ (1,856   $ (2,487   $ (19,256   $ (36,534
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

158


STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    North Carolina Tax-Exempt
Bond Fund
    Seix Floating Rate High Income Fund     Seix High Yield Fund  
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income

  $ 1,486,954      $ 1,660,194      $ 215,111,306      $ 205,885,567      $ 133,070,532      $ 136,249,830   

Net Realized Gain (Loss)

    1,975,936        772,901        18,424,010        (42,456,428     53,623,005        14,340,890   

Net Change in Unrealized Appreciation (Depreciation)

    (929,051     3,150,616        78,561,655        (72,504,487     63,484,472        (66,538,577
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    2,533,839        5,583,711        312,096,971        90,924,652        250,178,009        84,052,143   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

    (1,467,922     (1,637,049     (198,173,277     (187,063,784     (128,076,933     (133,095,538

A Shares

    (19,014     (23,345     (2,386,027     (3,160,271     (3,752,431     (2,350,113

C Shares

                  (1,259,361     (1,231,363              

R Shares

                                (139,203     (182,095
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (1,486,936     (1,660,394     (201,818,665     (191,455,418     (131,968,567     (135,627,746
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    (190,751     (4,943,726     2,309,433,271        430,833,930        (414,422,342     452,412,851   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    856,152        (1,020,409     2,419,711,577        330,303,164        (296,212,900     400,837,248   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    51,045,067        52,065,476        3,500,668,164        3,170,365,000        2,164,068,301        1,763,231,053   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 51,901,219      $ 51,045,067      $ 5,920,379,741      $ 3,500,668,164      $ 1,867,855,401      $ 2,164,068,301   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (63,078   $ (63,096   $ 23,943      $ (1,832,220   $ (407,000   $ 174,549   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

159


STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Short-Term Bond Fund     Short-Term Municipal Bond
Fund
    Short-Term U.S. Treasury
Securities Fund
 
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income

  $ 3,481,845      $ 6,364,781      $ 54,074      $ 612,455      $ 41,075      $ 154,220   

Net Realized Gain

    4,460,680        749,215        585,879        1,614,041        36,023        276,128   

Net Change in Unrealized Appreciation (Depreciation)

    (3,615,526     924,674        (323,208     96,893        (92,516     (223,465
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    4,326,999        8,038,670        316,745        2,323,389        (15,418     206,883   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

    (3,498,056     (6,773,468     (40,271     (501,407     (29,693     (117,918

A Shares

    (29,322     (66,609     (13,801     (111,048     (9,848     (31,254

C Shares

    (14,318     (34,750                   (1,520     (5,332

Net Realized Gains:

           

I Shares

                  (703,504     (224,417     (12,659     (102,832

A Shares

                  (317,101     (51,598     (6,894     (50,219

C Shares

                                (17,222     (114,078
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (3,541,696     (6,874,827     (1,074,677     (888,470     (77,836     (421,633
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    (234,247,904     (40,311,907     6,172,270        (17,415,381     (7,571,951     (16,033,722
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    2,333,462,601        (39,148,064     5,414,338        (15,980,462     (7,665,205     (16,248,472
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    316,341,168        355,489,232        9,401,219        25,381,681        19,887,150        36,135,622   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 82,878,567      $ 316,341,168      $ 14,815,557      $ 9,401,219      $ 12,221,945      $ 19,887,150   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (1,347   $      $ (1,452   $ (12,480   $ (100   $ (104
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

160


STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    Total Return Bond Fund     Ultra-Short Bond Fund     U.S. Government Securities
Fund
 
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

           

Net Investment Income

  $ 20,831,585      $ 18,574,714      $ 1,135,594      $ 1,246,231      $ 185,915      $ 568,029   

Net Realized Gain

    21,606,898        40,026,027        566,410        231,460        767,150        3,356,022   

Net Change in Unrealized Appreciation (Depreciation)

    2,564,055        10,939,669        (6,011     (5,941     30,778        167,329   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    45,002,538        69,540,410        1,695,993        1,471,750        983,843        4,091,380   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

           

Net Investment Income:

           

I Shares

    (21,920,205     (26,166,832     (1,236,755     (1,418,011     (181,707     (542,376

A Shares

    (863,304     (818,195                   (4,244     (18,362

C Shares

                                       (7,178

R Shares

    (595,142     (198,714                            

Net Realized Gains:

           

I Shares

    (22,724,839     (18,916,538                   (1,742,333     (2,889,258

A Shares

    (979,427     (708,013                   (77,637     (125,005

C Shares

                                (96,769     (156,535

R Shares

    (1,094,431     (190,664                            
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (48,177,348     (46,998,956     (1,236,755     (1,418,011     (2,102,690     (3,738,714
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    269,491,980        332,979,324        (3,851,548     (3,232,562     (4,378,712     (8,541,505
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    266,317,170        355,520,778        (3,392,310     (3,178,823     (5,497,559     (8,188,839
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

           

Beginning of Period

    1,060,886,182        705,365,404        112,616,604        115,795,427        44,951,568        53,140,407   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 1,327,203,352      $ 1,060,886,182      $ 109,224,294      $ 112,616,604      $ 39,454,009      $ 44,951,568   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (1,397,738   $ (1,977,807   $ (2,449   $      $ (78   $   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

161


STATEMENTS OF CHANGES IN NET ASSETS

 

RIDGEWORTH FUNDS    For the Periods Indicated

 

    U.S. Government Securities
Ultra-Short Bond Fund
    Virginia Intermediate
Municipal Bond Fund
 
    04/01/12-
03/31/13
    04/01/11-
03/31/12
    04/01/12-
03/31/13
    04/01/11-
03/31/12
 

Operations:

       

Net Investment Income

  $ 6,719,005      $ 9,577,397      $ 4,647,658      $ 5,227,681   

Net Realized Gain

    14,982,909        7,237,726        3,083,203        2,209,535   

Net Change in Unrealized Appreciation (Depreciation)

    2,192,598        14,153,073        (1,915,193     6,562,584   
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Operations

    23,894,512        30,968,196        5,815,668        13,999,800   
 

 

 

   

 

 

   

 

 

   

 

 

 

Dividends and Distributions to Shareholders:

       

Net Investment Income:

       

I Shares

    (18,391,336     (18,399,183     (4,325,538     (4,852,332

A Shares

                  (322,474     (376,121

Net Realized Gains:

       

I Shares

                  (2,258,696     (1,576,153

A Shares

                  (170,718     (126,821
 

 

 

   

 

 

   

 

 

   

 

 

 

Total Dividends and Distributions

    (18,391,336     (18,399,183     (7,077,426     (6,931,427
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets from Capital Transactions

    292,644,954        372,403,213        (2,961,697     (24,967,805
 

 

 

   

 

 

   

 

 

   

 

 

 

Change in Net Assets

    298,148,130        384,972,226        (4,223,455     (17,899,432
 

 

 

   

 

 

   

 

 

   

 

 

 

Net Assets:

       

Beginning of Period

    2,033,764,939        1,648,792,713        160,108,024        178,007,456   
 

 

 

   

 

 

   

 

 

   

 

 

 

End of Period

  $ 2,331,913,069      $ 2,033,764,939      $ 155,884,569      $ 160,108,024   
 

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated Net Investment Income (Loss), End of Period

  $ (3,259   $ (1,812   $ 19,519      $ 19,873   
 

 

 

   

 

 

   

 

 

   

 

 

 

 

See Notes to Financial Statements.

 

162


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS    Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net
Assets
    Portfolio
Turnover
Rate
 

Core Bond Fund

                             

I Shares

                             

Year Ended March 31, 2013

    $11.10        $0.15 (b)      $0.24        $0.39        $(0.20     $—        $(0.13     $(0.33     $11.16        $370,455        3.53     0.38     0.38     1.33     151

Year Ended March 31, 2012

    11.00        0.24 (b)      0.81        1.05        (0.27            (0.68     (0.95     11.10        439,017        9.65        0.48        0.48        2.15        211   

Year Ended March 31, 2011

    11.42        0.36 (b)      0.09        0.45        (0.25     (0.10     (0.52     (0.87     11.00        295,931        3.91        0.60        0.60        3.11        119 (c) 

Year Ended March 31, 2010

    10.93        0.43        0.46        0.89        (0.39            (0.01     (0.40     11.42        372,232        8.26        0.57        0.57        3.89        99   

Year Ended March 31, 2009

    10.74        0.46        0.24        0.70        (0.51                   (0.51     10.93        389,205        6.78        0.56        0.56        4.38        208   

A Shares

                             

Year Ended March 31, 2013

    11.10        0.11 (b)      0.24        0.35        (0.16            (0.13     (0.29     11.16        20,687        3.20        0.69        0.70        1.02        151   

Year Ended March 31, 2012

    11.00        0.21 (b)      0.80        1.01        (0.23            (0.68     (0.91     11.10        21,644        9.29        0.82        0.82        1.84        211   

Year Ended March 31, 2011

    11.42        0.35 (b)      0.06        0.41        (0.21     (0.10     (0.52     (0.83     11.00        19,087        3.61        0.87        0.87        3.03        119 (c) 

Year Ended March 31, 2010

    10.93        0.41        0.45        0.86        (0.36            (0.01     (0.37     11.42        26,790        7.91        0.89        0.89        3.59        99   

Year Ended March 31, 2009

    10.74        0.43        0.24        0.67        (0.48                   (0.48     10.93        25,996        6.46        0.86        0.86        4.10        208   

R Shares

                             

Year Ended March 31, 2013

    11.10        0.10 (b)      0.24        0.34        (0.14            (0.13     (0.27     11.17        5,135        3.15        0.84        0.84        0.87        151   

Year Ended March 31, 2012

    11.01        0.18 (b)      0.78        0.96        (0.19            (0.68     (0.87     11.10        5,952        8.83        1.16        1.16        1.55        211   

Year Ended March 31, 2011

    11.42        0.31 (b)      0.08        0.39        (0.18     (0.10     (0.52     (0.80     11.01        6,648        3.41        1.20        1.20        2.71        119 (c) 

Year Ended March 31, 2010

    10.93        0.37        0.45        0.82        (0.32            (0.01     (0.33     11.42        9,616        7.54        1.23        1.23        3.23        99   

Year Ended March 31, 2009

    10.75        0.37        0.22        0.59        (0.41                   (0.41     10.93        11,268        5.62        1.55        1.55        3.37        208   

Corporate Bond Fund

                             

I Shares

                             

Year Ended March 31, 2013

    9.35        0.32 (b)      0.30        0.62        (0.32            (0.35     (0.67     9.30        51,828        6.71        0.60        0.61        3.36        58   

Year Ended March 31, 2012

    9.59        0.39 (b)      0.46        0.85        (0.39            (0.70     (1.09     9.35        57,203        9.10        0.61        0.61        3.98        88   

Year Ended March 31, 2011

    9.63        0.45 (b)      0.20        0.65        (0.45            (0.24     (0.69     9.59        63,132        6.92        0.52        0.52        4.56        45 (c) 

Year Ended March 31, 2010

    8.53        0.46 (b)      1.09        1.55        (0.45                   (0.45     9.63        157,739        18.49        0.50        0.50        4.86        75   

Year Ended March 31, 2009

    9.60        0.49 (b)      (0.86     (0.37     (0.70                   (0.70     8.53        39,881        (4.10     0.73        0.74        5.29        357   

A Shares

                             

Year Ended March 31, 2013

    9.40        0.29 (b)      0.30        0.59        (0.29            (0.35     (0.64     9.35        4,020        6.39        0.88        0.88        3.06        58   

Year Ended March 31, 2012

    9.64        0.36 (b)      0.46        0.82        (0.36            (0.70     (1.06     9.40        4,325        8.78        0.88        0.88        3.68        88   

Year Ended March 31, 2011

    9.67        0.42 (b)      0.21        0.63        (0.42            (0.24     (0.66     9.64        2,198        6.67        0.83        0.83        4.25        45 (c) 

Year Ended March 31, 2010

    8.57        0.43 (b)      1.10        1.53        (0.43                   (0.43     9.67        4,524        18.05        0.80        0.80        4.52        75   

Year Ended March 31, 2009

    9.64        0.45 (b)      (0.85     (0.40     (0.67                   (0.67     8.57        2,181        (4.37     1.03        1.03        4.96        357   

C Shares

                             

Year Ended March 31, 2013

    9.35        0.23 (b)      0.30        0.53        (0.23            (0.35     (0.58     9.30        15,558        5.67        1.57        1.58        2.39        58   

Year Ended March 31, 2012

    9.59        0.29 (b)      0.46        0.75        (0.29            (0.70     (0.99     9.35        18,317        8.05        1.58        1.58        3.00        88   

Year Ended March 31, 2011

    9.63        0.36 (b)      0.20        0.56        (0.36            (0.24     (0.60     9.59        16,193        5.87        1.50        1.50        3.64        45 (c) 

Year Ended March 31, 2010

    8.53        0.36        1.10        1.46        (0.36                   (0.36     9.63        18,885        17.32        1.50        1.50        3.89        75   

Year Ended March 31, 2009

    9.61        0.40 (b)      (0.87     (0.47     (0.61                   (0.61     8.53        18,171        (5.16     1.73        1.74        4.32        357   

Georgia Tax-Exempt Bond Fund

  

                           

I Shares

                             

Year Ended March 31, 2013

    10.55        0.34 (b)      0.23        0.57        (0.34                   (0.34     10.78        148,153        5.44        0.59        0.59        3.15        50   

Year Ended March 31, 2012

    9.73        0.36 (b)      0.82        1.18        (0.36                   (0.36     10.55        145,803        12.33        0.62        0.62        3.55        57   

Year Ended March 31, 2011

    10.23        0.39 (b)      (0.50     (0.11     (0.39                   (0.39     9.73        159,996        (1.19     0.61        0.61        3.81        44   

Year Ended March 31, 2010

    9.81        0.39        0.42        0.81        (0.39                   (0.39     10.23        205,856        8.32        0.60        0.60        3.80        45   

Year Ended March 31, 2009*

    9.95        0.37        (0.14     0.23        (0.37                   (0.37     9.81        163,761        2.43        0.67        0.68        3.82        63   

 

See Notes to Financial Statements.

 

163


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net
Assets
    Portfolio
Turnover
Rate
 

A Shares

                             

Year Ended March 31, 2013

    $10.57        $0.32 (b)      $0.23        $0.55        $(0.32     $—        $—        $(0.32     $10.80        $4,566        5.27     0.74     0.74     2.99     50

Year Ended March 31, 2012

    9.75        0.35 (b)      0.82        1.17        (0.35                   (0.35     10.57        4,280        12.14        0.77        0.77        3.39        57   

Year Ended March 31, 2011

    10.24        0.37 (b)      (0.49     (0.12     (0.37                   (0.37     9.75        5,557        (1.24     0.76        0.76        3.64        44   

Year Ended March 31, 2010

    9.83        0.36        0.42        0.78        (0.37                   (0.37     10.24        10,184        8.03        0.75        0.75        3.56        45   

Year Ended March 31, 2009*

    9.97        0.37        (0.15     0.22        (0.36                   (0.36     9.83        2,747        2.27        0.82        0.83        3.66        63   

High Grade Municipal Bond Fund

                             

I Shares

                             

Year Ended March 31, 2013

    11.96        0.34 (b)      0.50        0.84        (0.34            (0.36     (0.70     12.10        54,892        7.12        0.65        0.68        2.78        168   

Year Ended March 31, 2012

    10.92        0.38 (b)      1.07        1.45        (0.38            (0.03     (0.41     11.96        42,963        13.43        0.64        0.66        3.29        218   

Year Ended March 31, 2011

    11.15        0.44 (b)      (0.23     0.21        (0.44                   (0.44     10.92        47,695        1.82        0.65        0.71        3.90        122   

Year Ended March 31, 2010

    10.49        0.42        0.66        1.08        (0.42                   (0.42     11.15        55,203        10.43        0.64        0.66        3.83        123   

Year Ended March 31, 2009

    10.80        0.38        (0.31     0.07        (0.38                   (0.38     10.49        74,586        0.72        0.62        0.62        3.57        209   

A Shares

                             

Year Ended March 31, 2013

    11.97        0.32 (b)      0.50        0.82        (0.32            (0.36     (0.68     12.11        11,363        6.97        0.80        0.83        2.63        168   

Year Ended March 31, 2012

    10.92        0.36 (b)      1.08        1.44        (0.36            (0.03     (0.39     11.97        8,155        13.36        0.79        0.81        3.15        218   

Year Ended March 31, 2011

    11.15        0.42 (b)      (0.23     0.19        (0.42                   (0.42     10.92        7,914        1.66        0.80        0.87        3.72        122   

Year Ended March 31, 2010

    10.49        0.40        0.66        1.06        (0.40                   (0.40     11.15        5,605        10.26        0.79        0.81        3.66        123   

Year Ended March 31, 2009

    10.80        0.37        (0.31     0.06        (0.37                   (0.37     10.49        1,900        0.56        0.78        0.78        3.47        209   

High Income Fund

                             

I Shares

                             

Year Ended March 31, 2013

    6.89        0.45 (b)      0.43        0.88        (0.45                   (0.45     7.32        784,870        13.17        0.74        0.75        6.33        118   

Year Ended March 31, 2012

    7.29        0.51 (b)      (0.32     0.19        (0.52            (0.07     (0.59     6.89        576,626        3.04        0.71        0.71        7.37        148   

Year Ended March 31, 2011

    6.77        0.50 (b)      0.54        1.04        (0.50            (0.02     (0.52     7.29        394,690        15.83        0.70        0.70        7.10        259 (c) 

Year Ended March 31, 2010

    4.67        0.55        2.09        2.64        (0.54                   (0.54     6.77        148,252        58.65        0.70        0.72        8.97        466   

Year Ended March 31, 2009

    6.40        0.54        (1.74     (1.20     (0.53                   (0.53     4.67        23,995        (19.40     0.70        0.76        9.67        368   

A Shares

                             

Year Ended March 31, 2013

    6.90        0.43 (b)      0.42        0.85        (0.43                   (0.43     7.32        119,006        12.72        0.99        0.99        6.09        118   

Year Ended March 31, 2012

    7.29        0.49 (b)      (0.31     0.18        (0.50            (0.07     (0.57     6.90        99,210        2.74        1.00        1.00        7.09        148   

Year Ended March 31, 2011

    6.78        0.47 (b)      0.54        1.01        (0.48            (0.02     (0.50     7.29        70,552        15.47        1.00        1.00        6.62        259 (c) 

Year Ended March 31, 2010

    4.68        0.53        2.09        2.62        (0.52                   (0.52     6.78        3,822        58.07        0.99        1.01        8.67        466   

Year Ended March 31, 2009

    6.41        0.52        (1.74     (1.22     (0.51                   (0.51     4.68        860        (19.60     0.99        1.04        8.33        368   

R Shares(d)

  

                           

Year Ended March 31, 2013

    6.89        0.41 (b)      0.43        0.84        (0.41                   (0.41     7.32        23,956        12.61        1.23        1.23        5.85        118   

Year Ended March 31, 2012

    7.29        0.47 (b)      (0.33     0.14        (0.47            (0.07     (0.54     6.89        20,317        2.25        1.35        1.35        6.76        148   

Year Ended March 31, 2011

    6.78        0.45 (b)      0.53        0.98        (0.45            (0.02     (0.47     7.29        15,671        15.07        1.40        1.40        6.54        259 (c) 

Year Ended March 31, 2010

    4.67        0.51        2.10        2.61        (0.50                   (0.50     6.78        16,176        57.86        1.35        1.38        8.68        466   

Year Ended March 31, 2009

    6.40        0.49        (1.74     (1.25     (0.48                   (0.48     4.67        12,249        (20.20     1.70        1.76        8.54        368   

Intermediate Bond Fund

                             

I Shares

                             

Year Ended March 31, 2013

    10.45        0.17 (b)      0.16        0.33        (0.17            (0.30     (0.47     10.31        942,715        3.24        0.35        0.35        1.63        116   

Year Ended March 31, 2012

    10.35        0.22 (b)      0.45        0.67        (0.22            (0.35     (0.57     10.45        1,194,207        6.45        0.35        0.35        2.04        139   

Year Ended March 31, 2011

    10.53        0.29 (b)      0.11        0.40        (0.25     (0.03     (0.30     (0.58     10.35        1,305,914        3.75        0.34        0.34        2.73        127 (c) 

Year Ended March 31, 2010

    10.27        0.34 (b)      0.27        0.61        (0.30            (0.05     (0.35     10.53        1,559,191        6.08        0.31        0.31        3.24        122   

Year Ended March 31, 2009

    10.29        0.43        0.24        0.67        (0.46            (0.23     (0.69     10.27        1,071,496        6.83        0.29        0.29        4.24        217   

 

See Notes to Financial Statements.

 

164


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net
Assets
    Portfolio
Turnover
Rate
 

A Shares

                             

Year Ended March 31, 2013

    $10.46        $0.14 (b)      $0.15        $0.29        $(0.14     $—        $(0.30     $(0.44     $10.31        $9,878        2.85     0.63     0.63     1.34     116

Year Ended March 31, 2012

    10.35        0.19 (b)      0.46        0.65        (0.19            (0.35     (0.54     10.46        11,320        6.26        0.62        0.62        1.75        139   

Year Ended March 31, 2011

    10.53        0.28 (b)      0.09        0.37        (0.22     (0.03     (0.30     (0.55     10.35        12,926        3.49        0.60        0.60        2.62        127 (c) 

Year Ended March 31, 2010

    10.27        0.31 (b)      0.28        0.59        (0.28            (0.05     (0.33     10.53        11,916        5.83        0.55        0.55        2.96        122   

Year Ended March 31, 2009

    10.29        0.41 (b)      0.23        0.64        (0.43            (0.23     (0.66     10.27        2,624        6.54        0.54        0.54        3.89        217   

R Shares(e)

                             

Year Ended March 31, 2013

    10.45        0.11 (b)      0.15        0.26        (0.11            (0.30     (0.41     10.30        32        2.58        0.92        1.82        1.06        116   

Year Ended March 31, 2012

    10.35        0.14 (b)      0.45        0.59        (0.14            (0.35     (0.49     10.45        749        5.72        1.04        1.04        1.36        139   

Year Ended March 31, 2011

    10.53        0.23 (b)      0.09        0.32        (0.17     (0.03     (0.30     (0.50     10.35        901        3.03        1.10        1.10        2.13        127 (c) 

Year Ended March 31, 2010

    10.27        0.27 (b)      0.28        0.55        (0.24            (0.05     (0.29     10.53        1,068        5.47        0.91        0.91        2.56        122   

Year Ended March 31, 2009

    10.29        0.36        0.22        0.58        (0.37            (0.23     (0.60     10.27        543        5.84        1.02        1.02        3.33        217   

Investment Grade Tax-Exempt Bond Fund

  

                           

I Shares

                             

Year Ended March 31, 2013

    12.49        0.25 (b)      0.35        0.60        (0.25            (0.39     (0.64     12.45        982,171        4.87        0.62        0.63        1.98        151   

Year Ended March 31, 2012

    11.65        0.29 (b)      0.93        1.22        (0.29            (0.09     (0.38     12.49        950,629        10.62        0.61        0.61        2.38        199   

Year Ended March 31, 2011

    11.99        0.33 (b)      (0.06     0.27        (0.33            (0.28     (0.61     11.65        1,067,672        2.22        0.57        0.57        2.71        159   

Year Ended March 31, 2010

    11.60        0.37        0.56        0.93        (0.37            (0.17     (0.54     11.99        1,037,972        8.15        0.55        0.56        3.08        169   

Year Ended March 31, 2009

    11.59        0.38        0.08        0.46        (0.38            (0.07     (0.45     11.60        817,297        4.12        0.54        0.55        3.30        221   

A Shares

                             

Year Ended March 31, 2013

    12.50        0.23 (b)      0.36        0.59        (0.23            (0.39     (0.62     12.47        36,958        4.75        0.82        0.87        1.78        151   

Year Ended March 31, 2012

    11.66        0.26 (b)      0.93        1.19        (0.26            (0.09     (0.35     12.50        37,840        10.33        0.87        0.87        2.12        199   

Year Ended March 31, 2011

    12.00        0.29 (b)      (0.06     0.23        (0.29            (0.28     (0.57     11.66        31,189        1.93        0.85        0.85        2.42        159   

Year Ended March 31, 2010

    11.61        0.34        0.56        0.90        (0.34            (0.17     (0.51     12.00        24,344        7.82        0.84        0.85        2.74        169   

Year Ended March 31, 2009

    11.60        0.34        0.08        0.42        (0.34            (0.07     (0.41     11.61        13,819        3.81        0.84        0.84        2.97        221   

Limited Duration Fund

  

                           

I Shares

                             

Year Ended March 31, 2013

    9.76        0.05 (b)      0.06        0.11        (0.04                   (0.04     9.83        9,357        1.08        0.30        0.33        0.50        56   

Year Ended March 31, 2012

    9.76        0.07 (b)      (0.01     0.06        (0.06                   (0.06     9.76        16,002        0.58        0.28        0.28        0.68        58   

Year Ended March 31, 2011

    9.71        0.10 (b)      0.03        0.13        (0.08                   (0.08     9.76        21,883        1.37        0.22        0.22        1.11        74 (c) 

Year Ended March 31, 2010

    9.52        0.08        0.18        0.26        (0.07                   (0.07     9.71        22,482        2.69        0.23        0.23        0.82        124   

Year Ended March 31, 2009

    9.87        0.23        (0.37     (0.14     (0.21                   (0.21     9.52        30,826        (1.38     0.19        0.19        2.43        44   

Limited-Term Federal Mortgage Securities Fund

  

                         

I Shares

                             

Year Ended March 31, 2013

    11.09        0.04 (b)      0.21        0.25        (0.18                   (0.18     11.16        8,851        2.26        0.66        0.85        0.37        163   

Year Ended March 31, 2012

    10.59        0.12 (b)      0.62        0.74        (0.24                   (0.24     11.09        24,688        7.01        0.66        0.72        1.06        299   

Year Ended March 31, 2011

    10.38        0.19 (b)      0.30        0.49        (0.28                   (0.28     10.59        30,522        4.73        0.65        0.80        1.77        443 (c) 

Year Ended March 31, 2010

    10.19        0.31        0.23        0.54        (0.35                   (0.35     10.38        20,998        5.41        0.62        0.66        3.25        435   

Year Ended March 31, 2009

    9.93        0.43        0.29        0.72        (0.46                   (0.46     10.19        39,135        7.48        0.60        0.60        4.34        337   

 

See Notes to Financial Statements.

 

165


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net
Assets
    Portfolio
Turnover
Rate
 

A Shares

                             

Year Ended March 31, 2013

    $11.07        $0.02 (b)      $0.21        $0.23        $(0.16     $—        $—        $(0.16     $11.14        $2,271        2.06     0.86     1.05     0.15     163

Year Ended March 31, 2012

    10.57        0.09 (b)      0.62        0.71        (0.21                   (0.21     11.07        6,279        6.81        0.86        0.93        0.78        299   

Year Ended March 31, 2011

    10.36        0.17 (b)      0.30        0.47        (0.26                   (0.26     10.57        2,924        4.53        0.85        1.01        1.63        443 (c) 

Year Ended March 31, 2010

    10.17        0.30        0.22        0.52        (0.33                   (0.33     10.36        2,598        5.21        0.82        0.88        2.91        435   

Year Ended March 31, 2009

    9.91        0.41        0.29        0.70        (0.44                   (0.44     10.17        2,143        7.29        0.81        0.81        4.14        337   

C Shares

                             

Year Ended March 31, 2013

    11.09        (0.07 )(b)      0.21        0.14        (0.07                   (0.07     11.16        6,039        1.25        1.66        1.84        (0.65     163   

Year Ended March 31, 2012

    10.59        0.01 (b)      0.62        0.63        (0.13                   (0.13     11.09        7,376        5.94        1.66        1.71        0.06        299   

Year Ended March 31, 2011

    10.38        0.09 (b)      0.29        0.38        (0.17                   (0.17     10.59        7,375        3.69        1.66        1.82        0.82        443 (c) 

Year Ended March 31, 2010

    10.19        0.22        0.22        0.44        (0.25                   (0.25     10.38        8,265        4.36        1.62        1.67        2.15        435   

Year Ended March 31, 2009

    9.93        0.33        0.29        0.62        (0.36                   (0.36     10.19        8,556        6.42        1.60        1.60        3.33        337   

North Carolina Tax-Exempt Bond Fund

  

                           

I Shares

                             

Year Ended March 31, 2013

    10.47        0.30 (b)      0.21        0.51        (0.30                   (0.30     10.68        50,991        4.88        0.62        0.62        2.79        79   

Year Ended March 31, 2012

    9.70        0.33 (b)      0.77        1.10        (0.33                   (0.33     10.47        50,412        11.51        0.67        0.67        3.27        39   

Year Ended March 31, 2011

    10.07        0.36 (b)      (0.37     (0.01     (0.36                   (0.36     9.70        51,372        (0.14     0.64        0.64        3.61        49   

Year Ended March 31, 2010

    9.63        0.37        0.44        0.81        (0.37                   (0.37     10.07        51,866        8.53        0.62        0.62        3.72        65   

Year Ended March 31, 2009

    9.71        0.35        (0.08     0.27        (0.35                   (0.35     9.63        43,660        2.88        0.61        0.61        3.66        74   

A Shares

                             

Year Ended March 31, 2013

    10.45        0.28 (b)      0.20        0.48        (0.28                   (0.28     10.65        910        4.63        0.77        0.77        2.60        79   

Year Ended March 31, 2012

    9.67        0.32 (b)      0.78        1.10        (0.32                   (0.32     10.45        633        11.47        0.82        0.82        3.11        39   

Year Ended March 31, 2011

    10.04        0.35 (b)      (0.37     (0.02     (0.35                   (0.35     9.67        693        (0.30     0.79        0.79        3.47        49   

Year Ended March 31, 2010

    9.61        0.36        0.43        0.79        (0.36                   (0.36     10.04        762        8.28        0.77        0.77        3.57        65   

Year Ended March 31, 2009

    9.68        0.33        (0.06     0.27        (0.34                   (0.34     9.61        559        2.84        0.76        0.76        3.53        74   

Seix Floating Rate High Income Fund

  

                           

I Shares

                             

Year Ended March 31, 2013

    8.83        0.46 (b)      0.20        0.66        (0.43                   (0.43     9.06        5,780,847        7.67        0.60        0.60        5.13        70   

Year Ended March 31, 2012

    9.01        0.50 (b)      (0.22     0.28        (0.46                   (0.46     8.83        3,419,351        3.31        0.60        0.60        5.69        72   

Year Ended March 31, 2011

    8.80        0.59 (b)      0.15        0.74        (0.53                   (0.53     9.01        3,078,972        8.64        0.51        0.51        6.62        98 (c) 

Year Ended March 31, 2010

    7.37        0.53        1.40        1.93        (0.50                   (0.50     8.80        1,173,308        26.68        0.50        0.50        7.08        117   

Year Ended March 31, 2009

    8.90        0.52        (1.53     (1.01     (0.52                   (0.52     7.37        557,347        (11.67     0.49        0.49        6.31        226   

A Shares

                             

Year Ended March 31, 2013

    8.83        0.43 (b)      0.21        0.64        (0.41                   (0.41     9.06        99,040        7.39        0.85        0.85        4.85        70   

Year Ended March 31, 2012

    9.01        0.48 (b)      (0.22     0.26        (0.44                   (0.44     8.83        51,185        3.05        0.85        0.85        5.47        72   

Year Ended March 31, 2011

    8.80        0.55 (b)      0.16        0.71        (0.50                   (0.50     9.01        69,159        8.29        0.84        0.84        6.22        98 (c) 

Year Ended March 31, 2010

    7.38        0.50        1.39        1.89        (0.47                   (0.47     8.80        22,298        26.11        0.81        0.81        6.81        117   

Year Ended March 31, 2009

    8.90        0.50        (1.52     (1.02     (0.50                   (0.50     7.38        5,513        (11.82     0.79        0.79        6.08        226   

C Shares

                             

Year Ended March 31, 2013

    8.83        0.38 (b)      0.20        0.58        (0.35                   (0.35     9.06        40,493        6.69        1.51        1.51        4.22        70   

Year Ended March 31, 2012

    9.02        0.42 (b)      (0.23     0.19        (0.38                   (0.38     8.83        30,132        2.26        1.52        1.52        4.77        72   

Year Ended March 31, 2011

    8.81        0.50 (b)      0.15        0.65        (0.44                   (0.44     9.02        22,234        7.57        1.50        1.50        5.65        98 (c) 

Year Ended March 31, 2010

    7.37        0.45        1.41        1.86        (0.42                   (0.42     8.81        7,402        25.59        1.49        1.49        6.35        117   

Year Ended March 31, 2009

    8.90        0.44        (1.53     (1.09     (0.44                   (0.44     7.37        543        (12.55     1.49        1.49        5.27        226   

 

See Notes to Financial Statements.

 

166


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net
Assets
    Portfolio
Turnover
Rate
 

Seix High Yield Fund

                             

I Shares

                             

Year Ended March 31, 2013

    $9.69        $0.64 (b)      $0.56        $1.20        $(0.63     $—        $—        $(0.63     $10.26        $1,792,768        12.80     0.54     0.54     6.41     79

Year Ended March 31, 2012

    10.07        0.70 (b)      (0.38     0.32        (0.70                   (0.70     9.69        2,123,625        3.44        0.54        0.54        7.27        83   

Year Ended March 31, 2011

    9.46        0.77 (b)      0.61        1.38        (0.77                   (0.77     10.07        1,724,652        15.24        0.51        0.51        7.96        108 (c) 

Year Ended March 31, 2010

    7.75        0.77        1.70        2.47        (0.76                   (0.76     9.46        1,723,678        32.91        0.48        0.49        8.54        116   

Year Ended March 31, 2009

    9.77        0.78        (2.03     (1.25     (0.77                   (0.77     7.75        786,029        (13.15     0.50        0.51        8.99        114   

A Shares

                             

Year Ended March 31, 2013

    9.47        0.59 (b)      0.56        1.15        (0.59                   (0.59     10.03        72,703        12.56        0.79        0.79        6.09        79   

Year Ended March 31, 2012

    9.84        0.65 (b)      (0.36     0.29        (0.66                   (0.66     9.47        38,016        3.21        0.78        0.78        6.91        83   

Year Ended March 31, 2011

    9.25        0.73 (b)      0.60        1.33        (0.74                   (0.74     9.84        35,238        14.99        0.77        0.77        7.74        108 (c) 

Year Ended March 31, 2010

    7.58        0.74        1.67        2.41        (0.74                   (0.74     9.25        28,378        32.81        0.75        0.75        8.51        116   

Year Ended March 31, 2009

    9.55        0.75        (1.97     (1.22     (0.75                   (0.75     7.58        18,530        (13.14     0.76        0.77        8.84        114   

R Shares(d)

                             

Year Ended March 31, 2013

    9.68        0.59 (b)      0.57        1.16        (0.58                   (0.58     10.26        2,385        12.36        1.03        1.03        5.92        79   

Year Ended March 31, 2012

    10.07        0.65 (b)      (0.40     0.25        (0.64                   (0.64     9.68        2,427        2.69        1.18        1.18        6.68        83   

Year Ended March 31, 2011

    9.45        0.71 (b)      0.62        1.33        (0.71                   (0.71     10.07        3,341        14.61        1.20        1.20        7.43        108 (c) 

Year Ended March 31, 2010

    7.75        0.71        1.69        2.40        (0.70                   (0.70     9.45        6,347        31.92        1.14        1.14        7.92        116   

Year Ended March 31, 2009

    9.77        0.70        (2.03     (1.33     (0.69                   (0.69     7.75        5,060        (14.01     1.50        1.50        7.90        114   

Short-Term Bond Fund

  

                           

I Shares

                             

Year Ended March 31, 2013

    9.99        0.15 (b)      0.01        0.16        (0.15                   (0.15     10.00        78,383        1.65        0.48        0.48        1.51        128   

Year Ended March 31, 2012

    9.95        0.20 (b)      0.06        0.26        (0.22                   (0.22     9.99        310,854        2.60        0.48        0.48        2.00        86   

Year Ended March 31, 2011

    9.94        0.21 (b)      0.02        0.23        (0.22                   (0.22     9.95        350,162        2.28        0.48        0.48        2.12        150 (c) 

Year Ended March 31, 2010

    9.40        0.30        0.53        0.83        (0.29                   (0.29     9.94        489,413        8.91        0.46        0.46        3.00        122   

Year Ended March 31, 2009

    9.87        0.40        (0.47     (0.07     (0.40                   (0.40     9.40        326,801        (0.70     0.46        0.46        4.20        122   

A Shares

                             

Year Ended March 31, 2013

    10.02        0.13 (b)      0.01        0.14        (0.13                   (0.13     10.03        2,069        1.40        0.73        0.74        1.27        128   

Year Ended March 31, 2012

    9.98        0.17 (b)      0.06        0.23        (0.19                   (0.19     10.02        2,478        2.32        0.76        0.76        1.75        86   

Year Ended March 31, 2011

    9.96        0.19 (b)      0.03        0.22        (0.20                   (0.20     9.98        2,642        2.18        0.67        0.67        1.94        150 (c) 

Year Ended March 31, 2010

    9.42        0.28        0.53        0.81        (0.27                   (0.27     9.96        3,389        8.65        0.68        0.68        2.78        122   

Year Ended March 31, 2009

    9.89        0.38        (0.47     (0.09     (0.38                   (0.38     9.42        2,715        (0.90     0.66        0.66        4.00        122   

C Shares

                             

Year Ended March 31, 2013

    10.01        0.05 (b)      0.01        0.06        (0.05                   (0.05     10.02        2,425        0.65        1.48        1.48        0.52        128   

Year Ended March 31, 2012

    9.98        0.10 (b)      0.05        0.15        (0.12                   (0.12     10.01        3,009        1.48        1.48        1.48        1.01        86   

Year Ended March 31, 2011

    9.96        0.11 (b)      0.03        0.14        (0.12                   (0.12     9.98        2,685        1.36        1.47        1.47        1.12        150 (c) 

Year Ended March 31, 2010

    9.42        0.20        0.53        0.73        (0.19                   (0.19     9.96        2,754        7.81        1.46        1.46        2.03        122   

Year Ended March 31, 2009

    9.89        0.30        (0.47     (0.17     (0.30                   (0.30     9.42        2,948        (1.69     1.45        1.46        3.20        122   

Short-Term Municipal Bond Fund

                             

I Shares

                             

Year Ended March 31, 2013

    10.73        0.05 (b)      0.27        0.32        (0.06            (0.98     (1.04     10.01        11,121        3.01        0.58        0.91        0.52        199   

Year Ended March 31, 2012

    10.16        0.32 (b)      0.70        1.02        (0.31            (0.14     (0.45     10.73        5,956        10.16        0.67        0.77        3.00        27   

Year Ended March 31, 2011

    10.48        0.35 (b)      (0.29     0.06        (0.35            (0.03     (0.38     10.16        21,302        0.53        0.68        0.68        3.32        33   

Year Ended March 31, 2010

    10.04        0.37        0.44        0.81        (0.37                   (0.37     10.48        24,332        8.18        0.65        0.65        3.58        35   

Year Ended March 31, 2009

    10.04        0.37               0.37        (0.37                   (0.37     10.04        26,064        3.79        0.63        0.63        3.71        26   

 

See Notes to Financial Statements.

 

167


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net
Assets
    Portfolio
Turnover
Rate
 

A Shares

                             

Year Ended March 31, 2013

    $10.73        $0.04 (b)      $0.26        $0.30        $(0.04     $—        $(0.98     $(1.02     $10.01        $3,694        2.86     0.73     1.04     0.39     199

Year Ended March 31, 2012

    10.16        0.29 (b)      0.71        1.00        (0.29            (0.14     (0.43     10.73        3,445        10.00        0.82        0.97        2.77        27   

Year Ended March 31, 2011

    10.48        0.33 (b)      (0.29     0.04        (0.33            (0.03     (0.36     10.16        4,081        0.38        0.83        0.83        3.18        33   

Period Ended March 31, 2010#

    10.29        0.24        0.19        0.43        (0.24                   (0.24     10.48        5,200        4.18        0.81        0.81        3.38        35   

Period Ended March 31, 2009##

    10.05        0.27        (0.25     0.02        (0.27                   (0.27     9.80               0.22        0.78        0.78        3.58        26   

Year Ended March 31, 2008

    10.22        0.36        (0.16     0.20        (0.36            (0.01     (0.37     10.05        45        1.91        0.79        0.79        3.65        23   

Short-Term U.S. Treasury Securities Fund

  

                           

I Shares

                             

Year Ended March 31, 2013

    9.96        0.05 (b)      (0.03     0.02        (0.05            (0.03     (0.08     9.90        3,339        0.15        0.55        0.89        0.52        14   

Year Ended March 31, 2012

    10.10        0.10 (b)      (f)      0.10        (0.10            (0.14     (0.24     9.96        8,502        0.96        0.55        0.74        1.01        31   

Year Ended March 31, 2011

    10.27        0.13 (b)      (0.01     0.12        (0.13            (0.16     (0.29     10.10        22,875        1.16        0.53        0.62        1.23        36   

Year Ended March 31, 2010

    10.33        0.14        (0.03     0.11        (0.14            (0.03     (0.17     10.27        33,504        1.03        0.49        0.54        1.29        147   

Year Ended March 31, 2009

    10.26        0.28        0.07        0.35        (0.28                   (0.28     10.33        61,692        3.50        0.48        0.48        2.74        144   

A Shares

  

                           

Year Ended March 31, 2013

    9.95        0.03 (b)      (0.03            (0.03            (0.03     (0.06     9.89        2,107        (0.03     0.73        1.04        0.33        14   

Year Ended March 31, 2012

    10.09        0.08 (b)      (f)      0.08        (0.08            (0.14     (0.22     9.95        3,455        0.78        0.73        0.94        0.80        31   

Year Ended March 31, 2011

    10.26        0.11 (b)      (0.01     0.10        (0.11            (0.16     (0.27     10.09        5,562        0.98        0.71        0.80        1.05        36   

Year Ended March 31, 2010

    10.32        0.12        (0.03     0.09        (0.12            (0.03     (0.15     10.26        5,839        0.85        0.67        0.71        1.20        147   

Year Ended March 31, 2009

    10.25        0.26        0.07        0.33        (0.26                   (0.26     10.32        16,854        3.31        0.65        0.66        2.30        144   

C Shares

                             

Year Ended March 31, 2013

    9.94        (b)(f)      (0.03     (0.03     (f)             (0.03     (0.03     9.88        6,776        (0.33     1.04        1.42        0.02        14   

Year Ended March 31, 2012

    10.08        0.01 (b)      (f)      0.01        (0.01            (0.14     (0.15     9.94        7,931        0.07        1.44        1.74        0.07        31   

Year Ended March 31, 2011

    10.25        0.02 (b)      (0.01     0.01        (0.02            (0.16     (0.18     10.08        7,699        0.16        1.53        1.62        0.21        36   

Year Ended March 31, 2010

    10.31        0.03        (0.03            (0.03            (0.03     (0.06     10.25        6,426        0.04        1.49        1.55        0.33        147   

Year Ended March 31, 2009

    10.25        0.18        0.06        0.24        (0.18                   (0.18     10.31        7,113        2.38        1.48        1.48        1.79        144   

Total Return Bond Fund

                             

I Shares

                             

Year Ended March 31, 2013

    10.77        0.18 (b)      0.25        0.43        (0.21            (0.20     (0.41     10.79        1,204,228        4.01        0.39        0.40        1.69        139   

Year Ended March 31, 2012

    10.40        0.25 (b)      0.73        0.98        (0.36            (0.25     (0.61     10.77        996,213        9.62        0.37        0.37        2.30        170   

Year Ended March 31, 2011

    10.60        0.33 (b)      0.22        0.55        (0.27     (0.08     (0.40     (0.75     10.40        684,952        5.20        0.33        0.33        3.05        251 (c) 

Year Ended March 31, 2010

    10.26        0.40        0.43        0.83        (0.36            (0.13     (0.49     10.60        724,588        8.17        0.31        0.31        3.72        326   

Year Ended March 31, 2009

    10.10        0.49        0.18        0.67        (0.51                   (0.51     10.26        602,267        6.89        0.30        0.30        4.85        199   

A Shares

                             

Year Ended March 31, 2013

    11.12        0.16 (b)      0.25        0.41        (0.18            (0.20     (0.38     11.15        50,279        3.76        0.66        0.68        1.42        139   

Year Ended March 31, 2012

    10.73        0.22 (b)      0.76        0.98        (0.34            (0.25     (0.59     11.12        44,359        9.31        0.65        0.65        1.95        170   

Year Ended March 31, 2011

    10.92        0.33 (b)      0.21        0.54        (0.25     (0.08     (0.40     (0.73     10.73        17,589        4.93        0.58        0.58        2.94        251 (c) 

Year Ended March 31, 2010

    10.57        0.38        0.43        0.81        (0.33            (0.13     (0.46     10.92        8,540        7.75        0.55        0.55        3.14        326   

Year Ended March 31, 2009

    10.40        0.46        0.19        0.65        (0.48                   (0.48     10.57        510        6.51        0.54        0.54        4.51        199   

 

See Notes to Financial Statements.

 

168


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net
Assets
    Portfolio
Turnover
Rate
 

R Shares

                             

Year Ended March 31, 2013(e)

    $10.78        $0.12 (b)      $0.25        $0.37        $(0.15     $—        $(0.20     $(0.35     $10.80        $72,697        3.43     0.96     1.05     1.11     139

Year Ended March 31, 2012

    10.40        0.18 (b)      0.76        0.94        (0.31            (0.25     (0.56     10.78        20,315        9.15        0.90        0.90        1.63        170   

Year Ended March 31, 2011

    10.60        0.30 (b)      0.19        0.49        (0.21     (0.08     (0.40     (0.69     10.40        2,825        4.63        0.89        0.89        2.74        251 (c) 

Year Ended March 31, 2010

    10.26        0.35        0.42        0.77        (0.30            (0.13     (0.43     10.60        710        7.61        0.82        0.82        3.11        326   

Year Ended March 31, 2009

    10.10        0.39        0.19        0.58        (0.42                   (0.42     10.26        325        5.90        1.10        1.10        4.01        199   

Ultra-Short Bond Fund

                             

I Shares

                             

Year Ended March 31, 2013

    9.95        0.10 (b)      0.04        0.14        (0.11                   (0.11     9.98        109,224        1.39        0.33        0.33        0.98        127   

Year Ended March 31, 2012

    9.93        0.10 (b)      0.03        0.13        (0.11                   (0.11     9.95        112,617        1.34        0.34        0.34        0.99        97   

Year Ended March 31, 2011

    9.91        0.13 (b)      0.04        0.17        (0.15                   (0.15     9.93        115,795        1.76        0.32        0.32        1.31        229   

Year Ended March 31, 2010

    9.52        0.25        0.39        0.64        (0.25                   (0.25     9.91        92,528        6.82        0.34        0.37        2.51        130   

Year Ended March 31, 2009

    9.91        0.39        (0.40     (0.01     (0.38                   (0.38     9.52        55,088        (0.13     0.31        0.36        3.95        88   

U.S. Government Securities Fund

  

                           

I Shares

                             

Year Ended March 31, 2013

    8.69        0.04 (b)      0.15        0.19        (0.04            (0.41     (0.45     8.43        35,866        2.19        0.75        0.81        0.47        75   

Year Ended March 31, 2012

    8.63        0.11 (b)      0.61        0.72        (0.11            (0.55     (0.66     8.69        40,754        8.27        0.73        0.73        1.18        94   

Year Ended March 31, 2011

    8.76        0.18 (b)      0.22        0.40        (0.18            (0.35     (0.53     8.63        48,580        4.50        0.62        0.62        2.02        92   

Year Ended March 31, 2010

    11.11        0.26        (0.37     (0.11     (0.27            (1.97     (2.24     8.76        71,910        (1.07     0.58        0.58        2.35        85   

Year Ended March 31, 2009

    10.59        0.33        0.56        0.89        (0.34            (0.03     (0.37     11.11        341,727        8.49        0.55        0.56        3.09        130   

A Shares

                             

Year Ended March 31, 2013

    8.69        0.02 (b)      0.15        0.17        (0.02            (0.41     (0.43     8.43        1,665        1.97        0.97        1.02        0.24        75   

Year Ended March 31, 2012

    8.63        0.08 (b)      0.61        0.69        (0.08            (0.55     (0.63     8.69        1,797        7.98        1.00        1.00        0.90        94   

Year Ended March 31, 2011

    8.76        0.15 (b)      0.22        0.37        (0.15            (0.35     (0.50     8.63        2,089        4.18        0.93        0.93        1.71        92   

Year Ended March 31, 2010

    11.11        0.21        (0.35     (0.14     (0.24            (1.97     (2.21     8.76        2,314        (1.38     0.89        0.89        1.98        85   

Year Ended March 31, 2009

    10.59        0.29        0.56        0.85        (0.30            (0.03     (0.33     11.11        2,954        8.17        0.85        0.86        2.78        130   

C Shares

                             

Year Ended March 31, 2013

    8.69        (b)      0.15        0.15                      (0.41     (0.41     8.43        1,923        1.72        1.22        1.70               75   

Year Ended March 31, 2012

    8.63        0.03 (b)      0.61        0.64        (0.03            (0.55     (0.58     8.69        2,401        7.32        1.61        1.67        0.28        94   

Year Ended March 31, 2011

    8.76        0.09 (b)      0.22        0.31        (0.09            (0.35     (0.44     8.63        2,471        3.46        1.62        1.62        1.02        92   

Year Ended March 31, 2010

    11.11        0.14        (0.35     (0.21     (0.17            (1.97     (2.14     8.76        3,038        (2.05     1.58        1.58        1.28        85   

Year Ended March 31, 2009

    10.59        0.22        0.56        0.78        (0.23            (0.03     (0.26     11.11        3,649        7.42        1.55        1.55        2.08        130   

U.S. Government Securities Ultra-Short Bond Fund

  

                         

I Shares

                             

Year Ended March 31, 2013

    10.14        0.03 (b)      0.08        0.11        (0.08                   (0.08     10.17        2,331,913        1.10        0.36        0.36        0.29        137   

Year Ended March 31, 2012

    10.07        0.06 (b)      0.12        0.18        (0.11                   (0.11     10.14        2,033,765        1.76        0.36        0.36        0.55        70   

Year Ended March 31, 2011

    10.07        0.07 (b)      0.09        0.16        (0.16                   (0.16     10.07        1,648,792        1.61        0.33        0.33        0.73        126 (c) 

Year Ended March 31, 2010

    10.03        0.30        0.06        0.36        (0.32                   (0.32     10.07        1,340,992        3.62        0.29        0.29        2.15        119   

Year Ended March 31, 2009

    10.03        0.41        0.01        0.42        (0.42                   (0.42     10.03        90,675        4.29        0.28        0.32        4.00        92   

 

See Notes to Financial Statements.

 

169


FINANCIAL HIGHLIGHTS

 

RIDGEWORTH FUNDS     Selected Data For a Share of Beneficial Interest Outstanding Throughout the Periods Indicated.

 

    Net Asset
Value,
Beginning
of Period
    Net
Investment
Income
(Loss)
    Net
Realized
and
Unrealized
Gains
(Losses) on
Investments
    Total from
Operations
    Dividends
from Net
Investment
Income
    Distributions
from Tax
Return of
Capital
    Distributions
from
Realized
Capital
Gains
    Total
Dividends
and
Distributions
    Net Asset
Value,
End of
Period
    Net Assets
End of
Period
(000)
    Total
Return(a)
    Ratio of
Net
Expenses
to Average
Net
Assets
    Ratio of
Expenses to
Average Net
Assets
(Excluding
Waivers and
Reimbursements)
    Ratio of
Net
Investment
Income to
Average
Net
Assets
    Portfolio
Turnover
Rate
 

Virginia Intermediate Municipal Bond Fund

  

                         

I Shares

                             

Year Ended March 31, 2013

    $10.63        $0.31 (b)      $0.08        $0.39        $(0.31     $—        $(0.17     $(0.48     $10.54        $144,889        3.70     0.59     0.59     2.93     33

Year Ended March 31, 2012

    10.21        0.33 (b)      0.53        0.86        (0.33            (0.11     (0.44     10.63        147,599        8.55        0.63        0.63        3.12        23   

Year Ended March 31, 2011

    10.39        0.34 (b)      (0.11     0.23        (0.34            (0.07     (0.41     10.21        165,536        2.15        0.62        0.62        3.23        17   

Year Ended March 31, 2010

    10.22        0.37        0.19        0.56        (0.37            (0.02     (0.39     10.39        191,537        5.58        0.61        0.61        3.56        33   

Year Ended March 31, 2009

    10.09        0.36        0.13        0.49        (0.36                   (0.36     10.22        181,882        5.01        0.60        0.60        3.61        20   

A Shares

                             

Year Ended March 31, 2013

    10.63        0.30 (b)      0.07        0.37        (0.30            (0.17     (0.47     10.53        10,996        3.45        0.74        0.74        2.78        33   

Year Ended March 31, 2012

    10.21        0.31 (b)      0.53        0.84        (0.31            (0.11     (0.42     10.63        12,509        8.38        0.78        0.78        2.97        23   

Year Ended March 31, 2011

    10.39        0.32 (b)      (0.11     0.21        (0.32            (0.07     (0.39     10.21        12,471        2.00        0.77        0.77        3.09        17   

Year Ended March 31, 2010

    10.22        0.35        0.20        0.55        (0.36            (0.02     (0.38     10.39        14,236        5.44        0.75        0.75        3.35        33   

Year Ended March 31, 2009

    10.09        0.35        0.13        0.48        (0.35                   (0.35     10.22        7,619        4.85        0.75        0.75        3.46        20   

 

(a) Total return excludes sales charge. Not annualized for periods less than one year.

 

(b) Per share data calculated using average shares outstanding method.

 

(c) The amount previously reported has been adjusted to exclude an overstatement of mortgage-backed transactions and/or other corporate actions.

 

(d) Effective at the close of business on July 31, 2009, C shares converted to R shares and C shares are no longer available for purchase. The data prior to such date reflects that of C shares.

 

(e) Effective at the close of business on February 12, 2009, C shares converted to R shares and C shares are no longer available for purchase. The data prior to such date reflects that of C shares.

 

(f) Rounds to less than $0.005 per share.

 

* The Georgia Tax-Exempt Bond Fund’s net expense ratio and gross expense ratio includes interest expense of 0.09% incurred during the year ended March 31, 2009 with respect to investments in certain inverse floating rate securities.

 

# Prior to August 1, 2009, there were no assets in Class A during the current period. Effective at the close of business July 31, 2009, Class A received assets from the conversion from Class C. The net asset value shown for the beginning of the period reflects the initial converted net asset value from Class C and the amounts shown thereafter reflect operations for Class A from August 1, 2009 through March 31, 2010.

 

## Class A was operational during a portion of the year only. Amounts reflect performance for the period of time the class had operations, which was 280 days during the period for Maryland Municipal Bond Fund. The net asset value, end of period, presented for Maryland Municipal Bond Fund A Shares was as of January 6, 2009, the last day the class had shareholders.

Amounts designated as “—” are $0 or have rounded to $0.

 

See Notes to Financial Statements.

 

170


NOTES TO FINANCIAL STATEMENTS

 

RIDGEWORTH FUNDS    March 31, 2013

 

1. Organization

The RidgeWorth Funds (the “Trust”) is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is authorized to issue an unlimited number of shares without par value. The financial statements presented herein are those of the Core Bond Fund, Corporate Bond Fund, Georgia Tax-Exempt Bond Fund, High Grade Municipal Bond Fund, High Income Fund, Intermediate Bond Fund, Investment Grade Tax-Exempt Bond Fund, Limited Duration Fund, Limited-Term Federal Mortgage Securities Fund, North Carolina Tax-Exempt Bond Fund, Seix Floating Rate High Income Fund, Seix High Yield Fund, Short-Term Bond Fund, Short-Term Municipal Bond Fund, Short-Term U.S. Treasury Securities Fund, Total Return Bond Fund, Ultra-Short Bond Fund, U.S. Government Securities Fund, U.S. Government Securities Ultra-Short Bond Fund and Virginia Intermediate Municipal Bond Fund (each, a “Fund” and collectively, the “Funds”).

The Limited Duration Fund, Ultra-Short Bond Fund and U.S. Government Securities Ultra-Short Bond Fund offer I Shares only. The Georgia Tax-Exempt Bond Fund, High Grade Municipal Bond Fund, Investment Grade Tax-Exempt Bond Fund, North Carolina Tax-Exempt Bond Fund, Short-Term Municipal Bond Fund, and Virginia Intermediate Bond Fund offer I Shares and A Shares. The Core Bond Fund, High Income Fund, Intermediate Bond Fund, Seix High Yield Fund and Total Return Bond Fund offer I Shares, A Shares and R Shares. The remaining Funds offer I Shares, A Shares and C Shares.

The assets of each Fund are segregated and a shareholder’s interest is limited to the Fund in which shares are held. Each class of shares has identical rights and privileges except with respect to the fees paid under the Distribution and Service Plan, voting rights on matters affecting a single class of shares and sales charges. The A Shares of the Funds (except Limited-Term Federal Mortgage Securities Fund, Seix Floating Rate High Income Fund, Short-Term Bond Fund, Short-Term Municipal Bond Fund and Short-Term U.S. Treasury Securities Fund) have a maximum sales charge on purchases of 4.75% as a percentage of original purchase price. The A Shares of the Limited-Term Federal Mortgage Securities Fund, Seix Floating Rate High Income Fund, Short-Term Bond Fund, Short-Term Municipal Bond and Short-Term U.S. Treasury Securities Fund have a maximum sales charge on purchases of 2.50% as a percentage of original purchase price. Certain purchases of A Shares will not be subject to a front-end sales charge but will be subject to a contingent deferred sales charge (“CDSC”) of 0.50%, if redeemed within two years of purchase. The deferred sale charges may be waived from time to time for certain broker-dealers that waive payment of compensation to them. The C Shares have a maximum CDSC of 1.00% as a percentage of either the original purchase price or the next calculated price after the Funds receive a redemption request, whichever is less, if shares are redeemed within one year of purchase. There is no sales charge on purchases of I or R Shares.

The Trust’s officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts with its vendors and others that provide for general indemnifications. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust. However, based on experience, the Trust expects that risk of loss to be remote.

 

2. Significant Accounting Policies

The following are significant accounting policies consistently followed by the Funds which are in conformity with accounting principles generally accepted in the U.S. (“GAAP”). Estimates and assumptions are required to be made regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ.

(a) Investment Valuation — Debt securities are valued at the last quoted bid price provided by independent pricing vendors approved by the Board of Trustees of the Trust (the “Board”) that are based on transactions in debt obligations, quotations from bond dealers, market transactions in comparable securities and various other relationships between securities.

The Funds, in accordance with GAAP, have adopted Financial Accounting Standards Board Codification Topic 820 (“ASC Topic 820”). ASC Topic 820 establishes a single definition of fair value, creates a three-tier hierarchy as a

 

171


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

framework for measuring fair value based on inputs used to value the Funds’ investments, and requires additional disclosure about fair value. The hierarchy of inputs is summarized below:

 

  Ÿ   Level 1— Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities. Investments in underlying funds are valued at their NAV daily and are classified as Level 1 prices.

 

  Ÿ   Level 2 — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain asset and mortgage backed products, less liquid listed equities, and state, municipal and provincial obligations.

 

  Ÿ   Level 3 — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the funds use one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the funds in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the funds in the absence of market information. Assumptions used by the funds due to the lack of observable inputs may significantly impact the resulting fair value and therefore the funds’ results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Funds use valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

The independent pricing vendor may value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, and/or other methodologies designed to identify the market value for such securities and such securities are considered Level 2 in the fair value hierarchy. Publicly-traded foreign government debt securities are typically traded internationally in the over-the-counter market and are valued at the bid prices as of the close of business of that market and such securities are considered Level 2 in the fair value hierarchy. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded and such securities may be considered Level 1 in the fair value hierarchy. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade and such securities may be considered Level 1 in the fair value hierarchy.

When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before each Fund calculates its net asset value, each of the Funds values these securities in accordance with the Pricing and Valuation Procedures approved by the Board. The Pricing and Valuation Procedures are performed and monitored by a Valuation Committee (the “Committee”) designated by the Board. Some of the more common reasons which may necessitate that a security be fair valued in accordance with the Pricing and Valuation Procedures include, but are not limited to: if a subadviser determines that the valuation of a security does not reflect its fair value, the security’s primary trading market is temporarily closed at a time when under normal conditions it would be open; or the security’s primary pricing source is not able or willing to provide a price. When a security is fair valued in accordance with the Pricing and Valuation Procedures, the Committee determines the value after taking into consideration relevant information reasonably available to the Committee. Under the Pricing and Valuation Procedures, such securities may be considered Level 2 or Level 3 in the fair value hierarchy. Short-term obligations with maturities of 60 days or less are valued at amortized cost, which approximates fair value and such securities are considered Level 2 in the fair value hierarchy.

 

172


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

The following is a summary of the inputs used in valuing the Funds’ assets and liabilities carried at fair value as of March 31, 2013:

Asset Valuation Inputs

 

     Level 1 -
Quoted
Prices
     Level 2 -
Other
Significant
Observable
Inputs
     Level 3 -
Significant
Unobservable
Inputs
    Total  

Core Bond Fund

          

Asset-Backed Securities1

     $—         $4,361,855         $—        $4,361,855   

Collateralized Mortgage Obligations1

             30,453,728                30,453,728   

Corporate Bonds1

             88,160,235                88,160,235   

U.S. Government Agency Mortgages1

             103,655,560                103,655,560   

U.S. Treasury Obligations1

             158,737,514                158,737,514   

Preferred Stocks1

     3,483,956                        3,483,956   

Money Market Fund

     30,909,791                        30,909,791   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     34,393,747         385,368,892                419,762,639   
  

 

 

    

 

 

    

 

 

   

 

 

 

Corporate Bond Fund

          

Corporate Bonds1

             66,831,194                66,831,194   

Preferred Stocks1

     3,255,109                        3,255,109   

Money Market Fund

     1,785,944                        1,785,944   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     5,041,053         66,831,194                71,872,247   
  

 

 

    

 

 

    

 

 

   

 

 

 

Georgia Tax-Exempt Bond Fund

          

Municipal Bonds2

             146,555,311                146,555,311   

Money Market Fund

     9,819,881                        9,819,881   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     9,819,881         146,555,311                156,375,192   
  

 

 

    

 

 

    

 

 

   

 

 

 

High Grade Municipal Bond Fund

          

Municipal Bonds2

             57,368,094                57,368,094   

Money Market Fund

     10,187,447                        10,187,447   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     10,187,447         57,368,094                67,555,541   
  

 

 

    

 

 

    

 

 

   

 

 

 

High Income Fund

          

Bank Loans1

             31,087,854                31,087,854   

Corporate Bonds1

             806,284,157         0 4      806,284,157   

Convertible Corporate Bond1

             2,080,650                2,080,650   

Preferred Stock1

     3,294,192                        3,294,192   

Convertible Preferred Stock1

     7,154,448                        7,154,448   

Common Stock1

             794,610                794,610   

Short-Term Investment

             70,317,458                70,317,458   

Money Market Fund

     67,039,336                        67,039,336   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     77,487,976         910,564,729         0 4      988,052,705   
  

 

 

    

 

 

    

 

 

   

 

 

 

Intermediate Bond Fund

          

Collateralized Mortgage Obligation1

             1,814,795                1,814,795   

Corporate Bonds1

             255,252,960                255,252,960   

U.S. Government Agency Mortgages1

             67,401,940                67,401,940   

U.S. Treasury Obligations1

             605,730,834                605,730,834   

Preferred Stocks1

     11,714,304                        11,714,304   

Short-Term Investment

             2,034,885                2,034,885   

Money Market Fund

     931,089                        931,089   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     12,645,393         932,235,414                944,880,807   
  

 

 

    

 

 

    

 

 

   

 

 

 

Investment Grade Tax-Exempt Bond Fund

          

Municipal Bonds2

             940,853,387                940,853,387   

Money Market Fund

     92,683,724                        92,683,724   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     92,683,724         940,853,387                1,033,537,111   
  

 

 

    

 

 

    

 

 

   

 

 

 

 

173


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Level 1 -
Quoted
Prices
     Level 2 -
Other
Significant
Observable
Inputs
     Level 3 -
Significant
Unobservable
Inputs
    Total  

Limited Duration Fund

          

Asset-Backed Securities1

     $—         $800,000         $—        $800,000   

Collateralized Mortgage Obligations1

             6,925,998                6,925,998   

U.S. Government Agency Mortgages1

             608,041                608,041   

Money Market Fund

     1,026,778                        1,026,778   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     1,026,778         8,334,039                9,360,817   
  

 

 

    

 

 

    

 

 

   

 

 

 

Limited-Term Federal Mortgage Securities Fund

          

Collateralized Mortgage Obligations1

             2,935,740                2,935,740   

U.S. Government Agency Mortgages1

             13,673,900                13,673,900   

U.S. Treasury Obligation1

             303,797                303,797   

Money Market Fund

     1,044,967                        1,044,967   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     1,044,967         16,913,437                17,958,404   
  

 

 

    

 

 

    

 

 

   

 

 

 

North Carolina Tax-Exempt Bond Fund

          

Municipal Bonds2

             47,510,593                47,510,593   

Money Market Fund

     4,219,295                        4,219,295   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     4,219,295         47,510,593                51,729,888   
  

 

 

    

 

 

    

 

 

   

 

 

 

Seix Floating Rate High Income Fund

          

Bank Loans1

             5,149,793,200                5,149,793,200   

Corporate Bonds1

             309,242,942         0 4      309,242,942   

Preferred Stocks1

     2,557,480                        2,557,480   

Common Stock1

             1,035,555                1,035,555   

Money Market Fund

     1,290,295,065                        1,290,295,065   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     1,292,852,545         5,460,071,697         0 4      6,752,924,242   
  

 

 

    

 

 

    

 

 

   

 

 

 

Seix High Yield Fund

          

Bank Loans1

             101,802,199                101,802,199   

Corporate Bonds1

             1,649,789,419                1,649,789,419   

Convertible Preferred Stock1

     11,033,004                        11,033,004   

Short-Term Investment

             99,836,835                99,836,835   

Money Market Fund

     129,824,361                        129,824,361   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     140,857,365         1,851,428,453                1,992,285,818   
  

 

 

    

 

 

    

 

 

   

 

 

 

Short-Term Bond Fund

          

Asset-Backed Securities1

             10,136,560                10,136,560   

Collateralized Mortgage Obligations1

             18,260,110                18,260,110   

Corporate Bonds1

             40,575,928                40,575,928   

Municipal Bond2

             2,676,017                2,676,017   

U.S. Government Agency Mortgages1

             9,552,505                9,552,505   

Money Market Fund

     1,879,549                        1,879,549   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     1,879,549         81,201,120                83,080,669   
  

 

 

    

 

 

    

 

 

   

 

 

 

Short-Term Municipal Bond Fund

          

Municipal Bonds2

             13,513,665                13,513,665   

Money Market Fund

     2,345,242                        2,345,242   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     2,345,242         13,513,665                15,858,907   
  

 

 

    

 

 

    

 

 

   

 

 

 

Short-Term U.S. Treasury Securities Fund

          

U.S. Treasury Obligations1

             12,021,521                12,021,521   

Money Market Fund

     93,932                        93,932   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments

     93,932         12,021,521                12,115,453   
  

 

 

    

 

 

    

 

 

   

 

 

 

 

174


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Level 1 -
Quoted
Prices
     Level 2 -
Other
Significant
Observable
Inputs
    Level 3 -
Significant
Unobservable
Inputs
     Total  

Total Return Bond Fund

          

Asset-Backed Securities1

     $—         $19,190,238        $—         $19,190,238   

Collateralized Mortgage Obligations1

             95,013,451                95,013,451   

Bank Loans1

             80,345,571                80,345,571   

Corporate Bonds1

             263,994,526                263,994,526   

U.S. Government Agency Mortgages1

             341,370,657                341,370,657   

U.S. Treasury Obligations1

             506,539,316                506,539,316   

Preferred Stocks1

     11,047,698                        11,047,698   

Short-Term Investment

             51,812,500                51,812,500   

Money Market Fund

     82,480,896                        82,480,896   
  

 

 

    

 

 

   

 

 

    

 

 

 

Total Investments

     93,528,594         1,358,266,259                1,451,794,853   
  

 

 

    

 

 

   

 

 

    

 

 

 

Other Financial Instruments3

          

Credit Default Swap Contracts – Buy Protection

          

Credit Risk

             98,777                98,777   

Forward Foreign Currency Contracts

          

Foreign Currency Risk

             882,410                882,410   
  

 

 

    

 

 

   

 

 

    

 

 

 

Total Investments

     93,528,594         1,359,247,446                1,452,776,040   
  

 

 

    

 

 

   

 

 

    

 

 

 

Ultra-Short Bond Fund

          

Asset-Backed Securities1

             3,884,724                3,884,724   

Collateralized Mortgage Obligations1

             28,840,870                28,840,870   

Corporate Bonds1

             55,836,588                55,836,588   

Municipal Bonds2

             1,923,731                1,923,731   

U.S. Government Agency Mortgages1

             16,913,460                16,913,460   

Money Market Fund

     3,501,421                        3,501,421   
  

 

 

    

 

 

   

 

 

    

 

 

 

Total Investments

     3,501,421         107,399,373                110,900,794   
  

 

 

    

 

 

   

 

 

    

 

 

 

U.S. Government Securities Fund

          

U.S. Treasury Obligations1

             38,946,491                38,946,491   

Money Market Fund

     647,958                        647,958   
  

 

 

    

 

 

   

 

 

    

 

 

 

Total Investments

     647,958         38,946,491                39,594,449   
  

 

 

    

 

 

   

 

 

    

 

 

 

U.S. Government Securities Ultra-Short Bond Fund

          

Asset-Backed Security1

             2,180,961                2,180,961   

Collateralized Mortgage Obligations1

             661,026,705                661,026,705   

U.S. Government Agency Mortgages1

             1,595,922,247                1,595,922,247   

Money Market Fund

     78,785,547                        78,785,547   
  

 

 

    

 

 

   

 

 

    

 

 

 

Total Investments

     78,785,547         2,259,129,913                2,337,915,460   
  

 

 

    

 

 

   

 

 

    

 

 

 

Virginia Intermediate Municipal Bond Fund

          

Municipal Bonds2

             149,008,419                149,008,419   

Money Market Fund

     6,207,605                        6,207,605   
  

 

 

    

 

 

   

 

 

    

 

 

 

Total Investments

     6,207,605         149,008,419                155,216,024   
  

 

 

    

 

 

   

 

 

    

 

 

 
Liability Valuation Inputs           
     Level 1 -
Quoted
Prices
     Level 2 -
Other
Significant
Observable
Inputs
    Level 3 -
Significant
Unobservable
Inputs
     Total  

Total Return Bond Fund

          

Other Financial Instruments3

          

Credit Default Swap Contracts – Buy Protection

          

Credit Risk

     $—         $(4,033,600     $—         $(4,033,600

Forward Foreign Currency Contracts

          

Foreign Currency Risk

             (803,809             (803,809
  

 

 

    

 

 

   

 

 

    

 

 

 

Total Investments

             (4,837,409             (4,837,409
  

 

 

    

 

 

   

 

 

    

 

 

 

 

175


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Level 1 -
Quoted
Prices
    Level 2 -
Other
Significant
Observable
Inputs
     Level 3 -
Significant
Unobservable
Inputs
     Total  

U.S. Government Securities Ultra-Short Bond Fund

          

Other Financial Instruments3

          

Futures Contracts

          

Interest Rate Risk

     $(90,306     $—         $—         $(90,306
  

 

 

   

 

 

    

 

 

    

 

 

 

Total Investments

     (90,306                     (90,306
  

 

 

   

 

 

    

 

 

    

 

 

 

 

1 Please see the Schedules of Portfolio Investments for Sector or Country Classification.

 

2 Please see the Schedules of Portfolio Investments for State Classification.

 

3 Other Financial Instruments are derivative instruments not reflected in the value of Total Investments in the Schedules of Portfolio Investments, such as credit default swaps, forward foreign currency contracts and futures, which are valued at the unrealized appreciation (depreciation) on the instrument.

 

4 As of March 31, 2013, the securities designated as Level 3 were fair valued using significant unobservable inputs under procedures adopted by the Board. Such valuations were based on quotations from principal market makers. Level 3 roll forwards and change in unrealized appreciation (depreciation) of these Level 3 securities held at fiscal year end are presented below.

The following is a reconciliation of investments as of March 31, 2013 in which significant unobservable inputs (Level 3) were used in determining fair value:

 

    Balance
as of
3/31/2012
    Accrued
Discounts
(Premiums)
    Realized
Gain
(Loss)
    Change in
Unrealized
Appreciation
(Depreciation)
    Purchases     Sales     Transfers
into
Level 3
    Transfers
out of
Level 3
    Balance as
of
3/31/2013
    Net Change
in Unrealized
Appreciation
(Depreciation)
from
Investments
Still Held
as of
3/31/2013
 

High Income Fund

  

             

Corporate Bonds

                   

Auto Manufacturers

    $539,820        $—        $—        $(213,687     $—        $—        $—        $(326,133     $—        $(213,687
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Seix Floating Rate High Income Fund

  

             

Corporate Bonds

                   

Auto Manufacturers

    $200,000        $—        $—        $(79,817     $—        $—        $—        $(120,183     $—        $(79,817
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

The Fund’s policy is to disclose transfers between levels based on valuations at the end of the reporting period. Each portfolio may hold securities which are periodically fair valued in accordance with the Pricing and Valuation Procedures. This may result in movements between Level 1 and Level 2 throughout the period. There were no transfers between Levels 1 or 2 as of March 31, 2013, based on the valuation input levels assigned to securities on March 31, 2012. Transfers out of Level 3 were due to a restructuring of the issuing company’s capital structure during the year.

(b) Security Transactions and Investment Income — Security transactions are accounted for on a trade date basis. Interest income, adjusted for amortization of premium and accretion of discount over the life of the securities, is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date or as soon as practicable after the Funds determine the existence of a dividend declaration after exercising reasonable due diligence. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Funds determine the existence of a dividend declaration after exercising reasonable due diligence. The cost of investments sold is determined by use of the specific identification method. To the extent any issuer defaults or a credit event occurs that impacts the issuer, the Funds may halt any additional interest income accruals and consider the Funds’ ability to realize interest accrued up to the date of default or credit event.

(c) Distributions to Shareholders — Distributions from net investment income of each of the Funds are declared each business day to shareholders of record and are paid monthly. Distributions of net realized capital gains, if any, are declared at least annually. Distributions to shareholders from each of the Funds are recorded on the ex-dividend date and are determined in accordance with income tax regulations, which may differ from GAAP.

(d) Expense and Share Class Accounting — Expenses that are directly related to a specific Fund are charged to that Fund. Other operating expenses of the Trust are allocated pro-rata to the Funds on the basis of relative net assets

 

176


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

or another appropriate basis. Investment income, common expenses and realized/unrealized capital gains (losses) on investments are allocated to the various classes of the Funds on the basis of relative daily net assets of each share class. Fees relating to a specific class are charged directly to that share class.

(e) Securities Traded on a To-Be-Announced Basis — Certain Funds may trade securities on a to-be-announced (“TBA”) basis. In a TBA transaction, the Fund commits to purchasing or selling securities which have not yet been issued by the issuer and for which specific information, such as the face amount, maturity date and underlying pool of investments in U.S. government agency mortgage pass-through securities, is not announced. Securities purchased on a TBA basis are not settled until they are delivered to the Fund. Beginning on the date the Fund enters into a TBA transaction, cash, U.S. government securities or other liquid high-grade debt obligations are segregated in an amount equal in value to the purchase price of the TBA security. These securities are subject to market fluctuations and their current value is determined in the same manner as for other securities.

(f) Derivative Instruments — Certain Funds may enter into derivative contracts for purposes of pursuing their investment objective, to use as a substitute for a purchase or sale of a position in the underlying assets and/or as part of a strategy designed to reduce exposure to other risks. Open derivative positions at March 31, 2013 are included on each Fund’s Schedule of Portfolio Investments.

(g) Forward Foreign Currency Contracts — Certain Funds may enter into forward foreign currency contracts to hedge against foreign currency exchange rate risk on non-U.S. dollar denominated securities or to facilitate settlement of a foreign currency denominated portfolio transaction. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price with delivery and settlement at a future date. The contract is marked-to-market daily and the change in value is recorded by the Fund as an unrealized gain or loss. When a forward foreign currency contract is closed, through either delivery or offset by entering into another forward foreign currency contract, the Fund recognizes a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it is closed.

Forward foreign currency contracts involve elements of market risk in excess of the amounts reflected on the Statements of Assets and Liabilities. The Funds bear the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts.

(h) Futures Contracts — Certain Funds may enter into futures contracts to gain exposure to, or hedge against, changes in interest rates or gain exposure to, or hedge against, changes in certain asset classes. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date.

Upon entering into a futures contract, the Fund is required to deposit cash or cash equivalents with a broker in an amount equal to a certain percentage of the contract amount. This is known as the “initial margin” and subsequent payments (“variation margin”) are made or received by the Fund each day, depending on the daily fluctuation in the value of the contract. For certain futures, including foreign denominated futures, variation margin is not settled daily, but is recorded as a net variation margin payable or receivable. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. The daily changes in contract value are recorded as unrealized gains or losses in the Statements of Operations and the Fund recognizes a realized gain or loss when the contract is closed.

Futures contracts involve, to varying degrees, risk of loss in excess of the amounts reflected in the Statements of Assets and Liabilities. In addition, there is the risk that the Funds may not be able to enter into a closing transaction because of an illiquid secondary market.

(i) Foreign Currency Translation — Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates, as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time), on the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts based upon prevailing exchange rates on the respective dates of such transactions.

The Funds do not isolate that portion of the results of operations resulting from fluctuations in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments and foreign currencies.

 

177


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Net realized foreign exchange gains or losses arise from sales of foreign currencies, including gains and losses on forward foreign currency contracts, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded and amount actual received.

(j) Swap Contracts — Certain Funds may invest in swap contracts for the purpose of managing exposure to interest rate, credit or market risk, or for other purposes. The use of swap contracts involves risks that are different from those associated with ordinary portfolio transactions.

Swap contracts are marked-to-market daily using an independent pricing vendor and changes in value are recorded as unrealized appreciation or depreciation in the Statements of Assets and Liabilities. Gains or losses are realized upon termination of the swap contract. Collateral, in the form of restricted cash or securities, may be required to be held in segregated accounts with the Funds’ custodian in compliance with the terms of the swap contracts. Securities posted as collateral for swap contracts are identified in the Schedules of Portfolio Investments and restricted cash, if any, is identified on the Statements of Assets and Liabilities. Risks may exceed amounts recorded in the Statements of Assets and Liabilities. These risks include changes in the returns of the underlying instruments, failure of the counterparties to perform under the contracts’ terms, and the possible lack of liquidity with respect to the swap contracts. Payments received or made at the beginning of the measurement period are reflected as a premium or deposit, respectively, on the Statements of Assets and Liabilities. These upfront payments are amortized over the life of the swap and are recognized as realized gain or loss in the Statements of Operations. Net periodic payments received or paid by the Fund are recognized as a realized gain or loss in the Statements of Operations.

Credit Default Swaps

Certain Funds enter into credit default swap (“CDS”) contracts for investment purposes, to manage its credit risk or to add leverage. CDS contracts involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a default by a third party, typically corporate or sovereign issuers, on a specified obligation, or in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising a credit index. The Funds may use a CDS contract to provide protection against defaults of the issuers (i.e., to reduce risk where the Funds have exposure to an issuer), or to take an active long or short position with respect to the likelihood of a particular issuer’s default.

As a seller of protection, the Funds generally receive an upfront payment or a stream of payments throughout the term of the swap contract provided that there is no credit event. These amounts of potential payments will be partially offset by any recovery of values from the respective referenced obligations. As a seller of protection, a Fund effectively adds leverage to its portfolio because, in addition to its total net assets, a Fund is subject to investment exposure on the notional amount of the swap contract. As a buyer of protection, a Fund generally receives an amount up to the notional value of the swap contract if a credit event occurs.

The Funds’ maximum risk of loss from counterparty risk, as the protection buyer, is the fair value of the swap contract (this risk is mitigated by the posting of collateral by the counterparty to the Fund to cover the Funds’ exposure to the counterparty). As the protection seller, the Funds’ maximum risk is the notional amount of the contract. CDS contracts are considered to have credit risk-related contingent features since they require payment by the protection seller to the protection buyer upon the occurrence of a defined credit event.

Implied spreads are the theoretical prices a lender receives for credit default protection. When spreads rise, market perceived credit risk rises and when spreads fall, market perceived credit risk falls. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to enter into the contract. Wider credit spreads and decreasing market values, when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the contract. Credit spreads utilized in determining the period end market value of CDS contracts on corporate or sovereign issues are disclosed on the Schedules of Portfolio Investments and serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for credit derivatives. For CDS contracts on asset-backed securities and credit indices, the quoted market prices and resulting values, particularly in relation to the notional amount of the contract as well as the annual payment rate, serve as an indication of the current status of the payment/performance risk.

 

178


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Entering into a CDS contract involves, to varying degrees, elements of credit, market and documentation risk in excess of the related amounts recognized on the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these contracts, and that the counterparty to the contract may default on its obligation to perform or disagree as to the meaning of the contractual terms in the contract, and that there are unfavorable changes in net interest rates.

Interest Rate Swaps

Certain Funds may enter into interest rate swap (“IRS”) contracts to manage exposure to interest rate risk. IRS contracts are agreements between two parties to exchange cash flows based on a notional principal amount. The Fund may elect to pay a fixed rate and receive a floating rate, or, receive a fixed rate and pay a floating rate on a notional principal amount. IRS contracts are marked-to-market daily based upon quotations from market makers and the change, if any, is recorded as unrealized appreciation or depreciation in the Statements of Assets and Liabilities. When a swap contract is terminated early, the Fund records a realized gain or loss equal to the difference between the original cost and the settlement amount of the closing transaction.

The risks of IRS contracts include changes in market conditions that will affect the value of the contract or changes in the present value of the future cash flow streams and the possible inability of the counterparty to fulfill its obligations under the contract. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the contract’s remaining life, to the extent that this amount is positive. This risk is mitigated by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty.

The fair value of derivative instruments not accounted for as hedging instruments on the Statements of Assets and Liabilities and the effect of derivative instruments not accounted for as hedging instruments, on the Statements of Operations as of March 31, 2013, is presented in the table below:

 

     Credit
Risk
    Foreign
Exchange
Risk
     Interest
Rate
Risk
    Total  
High Income Fund          

Realized Gain (Loss)#

         

Swap Contracts

   $ (5,555   $       $      $ (5,555
  

 

 

   

 

 

    

 

 

   

 

 

 

Total Realized Gain (Loss)

   $ (5,555   $       $      $ (5,555
  

 

 

   

 

 

    

 

 

   

 

 

 

Number of Contracts, Notional Amounts or Shares

         

Swap Contracts

   $ 10,000,000      $       $      $ 10,000,000   
  

 

 

   

 

 

    

 

 

   

 

 

 
Seix High Yield Fund          

Realized Gain (Loss)#

         

Swap Contracts

   $ (1,169,396   $       $      $ (1,169,396
  

 

 

   

 

 

    

 

 

   

 

 

 

Total Realized Gain (Loss)

   $ (1,169,396   $       $      $ (1,169,396
  

 

 

   

 

 

    

 

 

   

 

 

 

Number of Contracts, Notional Amounts or Shares

         

Swap Contracts

   $ 47,600,000      $       $      $ 47,600,000   
  

 

 

   

 

 

    

 

 

   

 

 

 
Short Term Bond Fund          

Realized Gain (Loss)#

         

Futures Contracts

   $      $       $ (293,028   $ (293,028
  

 

 

   

 

 

    

 

 

   

 

 

 

Total Realized Gain (Loss)

   $      $       $ (293,028   $ (293,028
  

 

 

   

 

 

    

 

 

   

 

 

 

Change in Appreciation (Depreciation)##

         

Futures Contracts

   $      $       $ (94,925   $ (94,925
  

 

 

   

 

 

    

 

 

   

 

 

 

Total Change in Appreciation (Depreciation)

   $      $       $ (94,925   $ (94,925
  

 

 

   

 

 

    

 

 

   

 

 

 

Number of Contracts, Notional Amounts or Shares

         

Futures Contracts

                    (75     (75
  

 

 

   

 

 

    

 

 

   

 

 

 
Total Return Bond Fund          

Asset Derivatives

         

Swap Contracts*

   $ 98,777      $       $      $ 98,777   
  

 

 

   

 

 

    

 

 

   

 

 

 

Forward Foreign Currency Contracts*

            882,410                882,410   
  

 

 

   

 

 

    

 

 

   

 

 

 

Total Value

   $ 98,777      $ 882,410       $      $ 981,187   
  

 

 

   

 

 

    

 

 

   

 

 

 

 

179


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Credit
Risk
    Foreign
Exchange
Risk
    Interest
Rate
Risk
    Total  

Liability Derivatives

        

Swap Agreements^

   $ (4,033,600   $      $      $ (4,033,600
  

 

 

   

 

 

   

 

 

   

 

 

 

Forward Foreign Currency Contracts^

            (803,809            (803,809
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Value

   $ (4,033,600   $ (803,809   $      $ (4,837,409
  

 

 

   

 

 

   

 

 

   

 

 

 

Realized Gain (Loss)#

        

Forward Foreign Currency Contracts

   $      $ 6,198,428      $      $ 6,198,428   
  

 

 

   

 

 

   

 

 

   

 

 

 

Swap Contracts

     (6,213,713                   (6,213,713
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Realized Gain (Loss)

   $ (6,213,713   $ 6,198,428      $      $ (15,285
  

 

 

   

 

 

   

 

 

   

 

 

 

Change in Appreciation (Depreciation)##

        

Forward Foreign Currency Contracts

   $      $ 214,851      $      $ 214,851   
  

 

 

   

 

 

   

 

 

   

 

 

 

Swap Contracts

     (83,434                   (83,434
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Change in Appreciation (Depreciation)

   $ (83,434   $ 214,851      $      $ 131,417   
  

 

 

   

 

 

   

 

 

   

 

 

 

Number of Contracts, Notional Amounts or Shares

        

Forward Foreign Currency Contracts

   $      $ 236,348,501      $      $ 236,348,501   
  

 

 

   

 

 

   

 

 

   

 

 

 

Swap Contracts

   $ 68,386,500      $      $      $ 68,386,500   
  

 

 

   

 

 

   

 

 

   

 

 

 
Ultra-Short Bond Fund         

Realized Gain (Loss)#

        

Futures Contracts

   $      $      $ (40,779   $ (40,779
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Realized Gain (Loss)

   $      $      $ (40,779   $ (40,779
  

 

 

   

 

 

   

 

 

   

 

 

 

Number of Contracts, Notional Amounts or Shares

        

Futures Contracts

                   (42     (42
  

 

 

   

 

 

   

 

 

   

 

 

 
U.S. Government Securities Ultra-Short Bond Fund         

Liability Derivatives

        

Futures Contracts^^

   $      $      $ (90,306   $ (90,306
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Value

   $      $      $ (90,306   $ (90,306
  

 

 

   

 

 

   

 

 

   

 

 

 

Realized Gain (Loss)#

        

Futures Contracts

   $      $      $ (2,321,948   $ (2,321,948
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Realized Gain (Loss)

   $      $      $ (2,321,948   $ (2,321,948
  

 

 

   

 

 

   

 

 

   

 

 

 

Change in Appreciation (Depreciation)##

        

Futures Contracts

   $      $      $ (90,306   $ (90,306
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Change in Appreciation (Depreciation)

   $      $      $ (90,306   $ (90,306
  

 

 

   

 

 

   

 

 

   

 

 

 

Number of Contracts, Notional Amounts or Shares

        

Futures Contracts

                   (621     (621
  

 

 

   

 

 

   

 

 

   

 

 

 

 

# Statements of Operations location: Amounts are included in net realized gain (loss) on investment transactions, futures contracts, swap contracts, or foreign currency transactions, as applicable.

 

Amount(s) disclosed represent the average number of contracts for futures contracts, notional amounts for forward currency contracts and swap contracts, which are indicative of volume of this derivative type, for the months that the Fund held such derivatives during the year ended March 31, 2013.

 

## Statements of Operations location: Amounts are included in net change in unrealized appreciation (depreciation) on investment transactions, foreign currency transactions, futures contracts, swap contracts, or translation of assets and liabilities in forward foreign currencies, as applicable.

 

* Statements of Assets and Liabilities location: Investments, at value, Receivables from unrealized appreciation on forward foreign currency contracts, or appreciated swap contract at value, as applicable.

 

^ Statements of Assets and Liabilities location: Unrealized depreciation on forward foreign currency contracts, or depreciated swap contracts, at value, as applicable.

 

^^ Cumulative appreciation (depreciation) on futures contracts is reported in “Futures Contracts”. The outstanding variation margin, if any, is reported within the Statements of Assets and Liabilities.

(k) Securities Lending — Each Fund may lend portfolio securities to brokers, dealers and other financial organizations that meet capital and other credit requirements or other criteria established by the Board. These loans may not exceed either (i) 50% of the sum of the market value of all securities of the Fund and the market

 

180


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

value of securities purchased with cash collateral or (ii) 33.33% of the total market value of all securities of the Fund. No Fund will lend portfolio securities to its investment adviser, subadviser, or its affiliates unless it has applied for and received specific authority to do so from the Securities and Exchange Commission. Loans of portfolio securities are required to be fully collateralized by cash, letters of credit or U.S. government securities. The initial value of the collateral must be at least 102% of the market value of the securities loaned, if the securities loaned are U.S. securities (105% for non-U.S. securities); and maintained in an amount equal to at least 100% (103% for non-U.S. securities) thereafter. However, due to market fluctuations during the day, the value of securities loaned on a particular day may exceed the value of collateral. On each business day, the amount of collateral is adjusted based on the prior day’s market fluctuations and the current day’s lending activity. Income from lending activity is determined by the amount of interest earned on collateral, less any amounts payable to the borrowers of the securities and the lending agent. Lending securities involves certain risks, including the risk that a Fund may be delayed or prevented from recovering the collateral if the borrower fails to return the securities. A fee will be obtained from the borrower if letters of credit or U.S. government securities are used as collateral.

The cash collateral received is aggregated in a joint account by the Funds, providing RidgeWorth Investments a pool of cash to invest in short-term investments that have a remaining maturity of 397 days or less. The Funds are joint participants with other affiliated Funds of the Trust that are not presented in this report. At March 31, 2013, the cash collateral received by the Funds was pooled and invested in the following securities. Each of the Funds participating in securities lending at March 31, 2013 owned a pro-rata portion of the assets and liabilities listed below:

 

     Shares      Value  

JPMorgan U.S. Government Money Market Fund, Capital Shares, 0.01%

     93,304,017       $ 93,304,017   

State Street Institutional U.S. Government Money Market Fund, Institutional Class, 0.01%

     222,355,346         222,355,346   
     

 

 

 

Total Investments (Cost $ 315,659,363)

        315,659,363   

Amount due to Lending Agent

        (26,873
     

 

 

 

Net Investment Value

      $ 315,632,490   
     

 

 

 

The following Funds paid securities lending fees to the lending agent during the year ended March 31, 2013, which have been netted against Income from Securities Lending on the Statements of Operations. These fees are presented below:

 

Fund

   Fee  

Core Bond Fund

     $832   

High Income Fund

     44,416   

Intermediate Bond Fund

     6,635   

Seix High Yield Fund

     87,642   

Total Return Bond Fund

     4,498   

(l) When-Issued Securities and Forward Commitments — Delivery and payment for securities that have been purchased by a Fund on a forward commitment or when-issued basis can take place up to a month or more after the transaction date at a fixed price. During this period, such securities are subject to market fluctuations. The purchase of securities on a when-issued or forward commitment basis may increase the volatility of a Fund’s net asset value if the Fund makes such investments while remaining substantially fully invested. A Fund records when-issued securities on trade date and will segregate or earmark liquid assets in an amount at least equal in value to its commitments to purchase when-issued and forward commitment securities or engage in other appropriate measures to “cover” its obligation. When-issued securities and the segregated liquid assets associated with such investments are presented within the Funds’ Schedules of Portfolio Investments.

(m) Bank Loans — Certain Funds may invest in first and second lien senior floating-rate loans (“bank loans”). These loans are made by banks and other large financial institutions to various companies and are senior in the borrowing companies’ capital structure. Coupon rates are floating, not fixed, and are tied to a benchmark lending rate. A Fund records an investment when the borrower withdraws money and records the interest as earned. Some types of senior loans in which these Funds may invest require that an open loan for a specific amount be continually offered to a borrower. These types of senior loans, commonly referred to as revolvers, contractually obligate the lender (and therefore those with an interest in the loan) to fund the loan at the borrower’s discretion. A Fund will maintain, on a daily basis, high quality, liquid assets in an amount at least equal in value to its

 

181


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

contractual obligation to fulfill the revolving senior loan. Therefore, a Fund must have funds sufficient to cover its contractual obligation. At March 31, 2013 Seix Floating Rate High Income Fund and Total Return Bond Fund had unfunded loan commitments.

(n) Restricted Securities — Certain Funds’ investments are restricted as to resale. As of March 31, 2013 all of these restricted securities have been deemed liquid by the Funds’ Investment Adviser based upon procedures approved by the Board unless stated otherwise in the Funds’ Schedules of Portfolio Investments.

(o) Credit and Market Risk — Certain Funds’ investments in securities that are collateralized by residential real estate mortgages are subject to certain credit and liquidity risks. When market conditions result in an increase in default rates of the underlying mortgages and the foreclosure values of underlying real estate properties are materially below the outstanding amount of these underlying mortgages, collection of the full amount of accrued interest and principal on these investments may be doubtful. Such market conditions may significantly impair the value and liquidity of these investments and may result in a lack of correlation between their credit ratings and values.

(p) Foreign Investment Risks — Certain Funds’ investments in foreign securities may involve risks not present in domestic investments. Since securities may be denominated in foreign currencies, may require settlement in foreign currencies or pay interest or dividends in foreign currencies, changes in the relationship of these foreign currencies to the U.S. dollar can significantly affect the value of the investments and earnings of the Fund. Foreign investments may also subject the Fund to foreign government exchange restrictions, expropriation, taxation or other political, social or economic developments, all of which affect the market and/or credit risk of the investments.

(q) Counterparty Risk and Credit-Risk-Related Contingent Features of Derivative Instruments — Certain Funds may invest in certain securities or engage in other transactions where the Funds are exposed to counterparty credit risk in addition to broader market risks. The Funds may invest in securities of issuers, which may also be considered counterparties as trading partners in other transactions. This may increase the risk of loss in the event of default or bankruptcy by the counterparty or if the counterparty otherwise fails to meet its contractual obligations. The Funds’ investment manager attempts to mitigate counterparty risk by (i) periodically assessing the creditworthiness of its trading partners, (ii) monitoring and/or limiting the amount of its net exposure to each individual counterparty based on its assessment and (iii) requiring collateral from the counterparty for certain transactions. Market events and changes in overall economic conditions may impact the assessment of such counterparty risk by the investment manager. In addition, declines in the values of underlying collateral received may expose the Funds to increased risk of loss.

(r) Other Risks — Certain Funds may invest in high yield corporate, government, and other debt instruments of U.S. and non-U.S. issuers. High yield securities involve greater risk of default or downgrade and are more volatile than investment grade securities. A Fund’s concentration of investments in securities of issuers located in a specific region or state, subjects that Fund to the economic and government policies of the region or state, and may increase risk versus that of a fund whose investments are more diversified. Please refer to each Fund’s prospectus for additional risks that made be associated with the Funds.

(s) Federal and Other Taxes — It is the Funds’ policy to comply with the federal income and excise tax requirements of the Internal Revenue Code of 1986 (the “Code”), as amended, applicable to regulated investment companies. Accordingly, the Funds intend to distribute taxable income and net realized gains, if any, to shareholders in accordance with timing requirements imposed by the Code. Therefore, no federal or state income tax provision is required in the Funds’ financial statements.

Management has analyzed the Funds’ tax positions taken on income tax returns for all open tax years and has concluded that as of March 31, 2013, no provision for income tax is required in the Funds’ financial statements. The Funds’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

Under the applicable foreign tax laws, a withholding tax may be imposed on interest, dividends and capital gains at various rates.

 

182


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

(t) Reclassification — GAAP requires that certain components of net assets be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share.

 

3. Investment Adviser and Other Service Providers

Investment Adviser — RidgeWorth Investments (“Investment Adviser”), a majority-owned subsidiary of SunTrust Banks, Inc. (“SunTrust”), serves as the investment adviser to the Funds. The Trust and the Investment adviser have entered into an investment advisory agreement (“Advisory Agreement”). The Investment Adviser is a money—management holding company with multiple style-focused investment boutiques (“Subadvisers”). The Subadvisers for each of the Funds are as follows: Seix Investment Advisors LLC (“Seix”) serves as the Subadviser for the Core Bond Fund, Corporate Bond Fund, High Income Fund, Intermediate Bond Fund, Limited Duration Fund, Limited-Term Federal Mortgage Securities Fund, Seix Floating Rate High Income Fund, Seix High Yield Fund, Total Return Bond Fund and U.S. Government Securities Fund; and StableRiver Capital Management LLC (“StableRiver”) serves as the Subadviser for the Georgia Tax-Exempt Bond Fund, High Grade Municipal Bond Fund, Investment Grade Tax-Exempt Bond Fund, North Carolina Tax-Exempt Bond Fund, Short-Term Bond Fund, Short-Term Municipal Bond Fund, Short-Term U.S. Treasury Securities Fund, Ultra-Short Bond Fund, U.S. Government Securities Ultra-Short Bond Fund, and Virginia Intermediate Municipal Bond Fund. Seix and StableRiver are each wholly-owned subsidiaries of the Investment Adviser. The Investment Adviser pays the Subadvisers out of the investment advisory fees it receives from the Funds.

Under the terms of the Advisory Agreement, the Funds are charged annual advisory fees, which are computed daily and paid monthly based upon average daily net assets. Effective August 1, 2012 the investment advisory fees changed as described in the table below. Breakpoints are used in computing the overall annual advisory fee. The maximum annual advisory fee is charged on average daily net assets of each Fund up to $500 million. A discount of 5% applies on the next $500 million, and a discount of 10% applies on amounts over $1 billion. Fee rates for the year ended March 31, 2013 were as follows:

 

Fund

   Maximum Annual
Advisory Fee prior
to August 1, 2012
    Maximum Annual
Advisory Fee as

of August 1, 2012
    Discounted Annual
Advisory Fee
    Advisory Fees
Waived/Expense
Reimbursed
    Net Annual
Fees
Paid*
 

Core Bond Fund

     0.25     0.25     0.25         0.25

Corporate Bond Fund

     0.40        0.40        0.40        (0.01     0.39   

Georgia Tax-Exempt Bond Fund

     0.55        0.50        0.52               0.52   

High Grade Municipal Bond Fund

     0.55        0.50        0.52        (0.03     0.49   

High Income Fund

     0.60        0.55        0.55        (0.01     0.54   

Intermediate Bond Fund

     0.25        0.25        0.24               0.24   

Investment Grade Tax-Exempt Bond Fund

     0.50        0.50        0.49        (0.01     0.48   

Limited Duration Fund

     0.10        0.10        0.10        (0.03     0.07   

Limited-Term Federal Mortgage Securities Fund

     0.50        0.50        0.50        (0.19     0.31   

North Carolina Tax-Exempt Bond Fund

     0.55        0.50        0.52               0.52   

Seix Floating Rate High Income Fund

     0.45        0.45        0.41               0.41   

Seix High Yield Fund

     0.45        0.45        0.42               0.42   

Short-Term Bond Fund

     0.40        0.40        0.40               0.40   

Short-Term Municipal Bond Fund

     0.55        0.35        0.35        (0.32     0.03   

Short-Term U.S. Treasury Securities Fund

     0.40        0.35        0.37        (0.31     0.06   

Total Return Bond Fund

     0.25        0.25        0.24        (0.01     0.23   

Ultra-Short Bond Fund

     0.22        0.22        0.22               0.22   

U.S. Government Securities Fund

     0.50        0.50        0.50        (0.06     0.44   

U.S. Government Securities Ultra-Short Bond Fund

     0.20        0.20        0.19               0.19   

Virginia Intermediate Municipal Bond Fund

     0.55        0.50        0.52               0.52   

 

* Aggregate annual fees paid to the Investment Adviser, who pays the applicable Subadviser a portion of the fees for its services to the Funds. Amounts designated as “—” are 0%.

 

183


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

The Investment Adviser and the applicable Subadviser have contractually agreed, until at least August 1, 2013, to waive fees and/or reimburse expenses for each of the following Funds to the extent necessary to maintain each Fund’s total annual fund operating expenses (excluding, as applicable, taxes, brokerage commissions, substitute dividend expenses on securities sold short, interest expense, extraordinary expenses and indirect expenses attributable to the Fund’s investment in other funds), expressed as a percentage of average daily net assets, as noted below:

 

 

     Contractual Expense Limitations
August 1, 2012 to March 31, 2013
 

Fund

   I Shares     A Shares     C Shares     R Shares  

Core Bond Fund

     0.45     0.72         1.05

Corporate Bond Fund

     0.62        0.93        1.60          

Georgia Tax-Exempt Bond Fund

     0.65        0.80                 

High Grade Municipal Bond Fund

     0.65        0.80                 

High Income Fund

     0.76        1.06               1.46   

Intermediate Bond Fund

     0.44        0.70               1.20   

Investment Grade Tax-Exempt Bond Fund

     0.65        0.80                 

Limited Duration Fund

     0.32                        

Limited-Term Federal Mortgage Securities Fund

     0.66        0.86        1.66          

North Carolina Tax-Exempt Bond Fund

     0.65        0.80                 

Seix Floating Rate High Income Fund

     0.62        0.95        1.61          

Seix High Yield Fund

     0.61        0.87        1.30          

Short-Term Bond Fund

     0.58        0.77               1.57   

Short-Term Municipal Bond Fund

     0.55        0.70                 

Short-Term U.S. Treasury Securities Fund

     0.55        0.73        1.55          

Total Return Bond Fund

     0.43        0.68               0.99   

Ultra-Short Bond Fund

     0.42                        

U.S. Government Securities Fund

     0.72        0.95        1.70          

U.S. Government Securities Ultra-Short Bond Fund

     0.43                        

Virginia Intermediate Municipal Bond Fund

     0.65        0.80                 

For the period April 1, 2012 to July 31, 2012 the Contractual Expense Limitations were as follows:

 

Fund

   I Shares     A Shares     C Shares      

High Grade Municipal Bond Fund

     0.65     0.80      

Limited-Term Federal Mortgage Securities Fund

     0.66        0.86        1.66     

Short-Term Municipal Bond Fund

     0.65        0.80            

Short-Term U.S. Treasury Securities Fund

     0.55        0.73        1.55     

Under the Expense Limitation Agreement, the Investment Adviser may retain the difference between the Contractual Expense Limitation identified above and the actual total expenses to recapture any of its prior contractual waivers or reimbursements at a date not to exceed three years from the date of such waivers or reimbursements. Such repayments shall be made monthly, but only to the extent that such repayments would not cause the annualized total expense ratio to exceed the contractual expense limitation in place at that time. During the year ended March 31, 2013, the Investment Adviser did not recapture any of its prior contractual waivers or reimbursements. As of March 31, 2013, the cumulative potential recoupments recoverable pursuant to this agreement are as follows:

 

     Expires  

Fund

   2014      2015      2016  

Core Bond Fund

     $—         $—         $1,227   

Corporate Bond Fund

                     10,691   

High Grade Municipal Bond Fund

     32,038         11,057         17,205   

High Income Fund

                     85,675   

Intermediate Bond Fund

                     580   

 

184


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Expires  

Fund

   2014      2015      2016  

Investment Grade Tax-Exempt Bond Fund

     $—         $—         $53,503   

Limited Duration Fund

                     3,221   

Limited-Term Federal Mortgage Securities Fund

             26,833         49,640   

Short-Term Bond Fund

                     2,491   

Short-Term Municipal Bond Fund

             22,692         36,571   

Short-Term U.S. Treasury Securities Fund

     18,813         44,910         49,079   

Total Return Bond Fund

                     134,555   

U.S. Government Securities Fund

                     26,551   

Amounts designated as “—” are $0.

During the year ended March 31, 2013, the Investment Adviser also voluntarily waived fees in certain Funds in order to maintain a more competitive expense ratio for shareholders. These voluntary waivers are not available to be recouped by the Investment Adviser in subsequent years.

The Investment Adviser has voluntarily undertaken to reduce and/or subsidize certain expenses of the Limited-Term Federal Mortgage Securities Fund, Short-Term Bond Fund, Short-Term U.S. Treasury Securities Fund and U.S. Government Securities Fund to the extent necessary to maintain a minimum annualized yield of 0.00% for each of the Fund’s share classes. This voluntary expense reduction and/or expense subsidy may be modified or discontinued at any time without prior notice. There can be no assurance that this fee reduction will be sufficient to avoid any loss. During the year ended March 31, 2013, Short-Term Municipal Bond Fund, Short-Term U.S. Securities Fund and U.S. Government Securities Fund had voluntary reimbursements in the amount of $7,587, $80 and $10,381, respectively.

Fund Accounting, Custody, Administration, and Transfer Agency — State Street Bank and Trust Company (“State Street Bank”) serves as the fund accounting agent and custodian for the Trust pursuant to a Master Custodian Agreement. The custodian is responsible for the safekeeping of the assets of the Funds and the fund accounting agent is responsible for calculating the Funds’ net asset values. State Street Bank, as the Funds’ custodian and fund accounting agent, is paid on the basis of net assets and transaction costs of the Funds. State Street Bank also serves as the administrator for the Trust pursuant to an Administration Agreement. State Street Bank, as the Funds’ administrator, is paid on the basis of net assets of the RidgeWorth investment company complex and fees are allocated among the series of the Trust, on the basis of relative net assets.

Boston Financial Data Services, Inc. (“BFDS”) serves as the transfer agent to the Trust pursuant to a Transfer Agency and Service Agreement. BFDS is paid on the basis of net assets, per account fees and certain transaction costs.

Custodian Credits —The Funds have an agreement with their custodian under which custody fees may be reduced by balance credits. These credits, if any, are shown as a reduction of total expenses on the Statements of Operations.

Distribution — The Trust and RidgeWorth Distributors LLC (the “Distributor”) are parties to a Distribution Agreement.

In addition, with respect to the A Shares, C Shares and R Shares, the Distributor receives amounts, pursuant to a Distribution and Service Plan, based upon average daily net assets of each respective class, which are computed daily and paid monthly. For the year ended March 31, 2013, the Distributor did not retain any of the front end sales charges assessed on the sale of Class A shares. For the year ended March 31, 2013, the Distributor did not retain any commissions from contingent deferred sales charges assessed on redemptions of Class C Shares. These fees, expressed as a percentage of average daily net assets, for the year ended March 31, 2013, were as follows:

 

Fund

   A Share
Distribution
and Service
Fee
    C Share
Distribution
and Service
Fee
    R Share
Distribution
and Service
Fee
 

Core Bond Fund

     0.30     N/A     0.50

Corporate Bond Fund

     0.30        1.00        N/A   

Georgia Tax-Exempt Bond Fund

     0.15        N/A        N/A   

High Grade Municipal Bond Fund

     0.15        N/A        N/A   

High Income Fund

     0.30        N/A        0.50   

 

185


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Fund

   A Share
Distribution
and Service
Fee
    C Share
Distribution
and Service
Fee
    R Share
Distribution
and Service
Fee
 

Intermediate Bond Fund

     0.25     N/A     0.50

Investment Grade Tax-Exempt Bond Fund

     0.30        N/A        N/A   

Limited-Term Federal Mortgage Securities Fund

     0.20        1.00        N/A   

North Carolina Tax-Exempt Bond Fund

     0.15        N/A        N/A   

Seix Floating Rate High Income Fund

     0.30        1.00        N/A   

Seix High Yield Fund

     0.25        N/A        0.50   

Short-Term Bond Fund

     0.20        1.00        N/A   

Short-Term Municipal Bond Fund

     0.15        N/A        N/A   

Short-Term U.S. Treasury Securities Fund

     0.18        1.00        N/A   

Total Return Bond Fund

     0.25        N/A        0.50   

U.S. Government Securities Fund

     0.30        1.00        N/A   

Virginia Intermediate Municipal Bond Fund

     0.15        N/A        N/A   

Shareholder Servicing Fees — The Core Bond Fund, High Income Fund, Intermediate Bond Fund, Seix High Yield Fund, and Total Return Bond Fund have adopted a shareholder services fee for the R Shares. Each Fund pays specified benefit plans or other financial service firms for shareholder support services they provide, at a rate of up to 0.25% of the average daily net assets of R Shares. In addition, effective August 1, 2012, the Funds have adopted shareholder services fees for the I Shares and A Shares of such Funds. Each of these Funds (or class thereof, as the case may be) may pay to financial institutions that provide certain services to the Funds a services fee. The services may include, among others, providing general shareholder liaison services (including responding to shareholder inquiries) providing information on shareholder investments, and establishing and maintaining shareholder accounts and records. The Funds may pay a shareholder services fee up to an annual rate of average daily net assets of a Fund’s I Shares or A Shares as follows:

 

Fund

   Maximum Shareholder
Servicing Fee for I
Shares and A Shares
Prior to August 1, 2012
    Maximum Shareholder
Servicing Fee for I Shares
and A Shares Effective
August 1, 2012
 

Core Bond Fund

     0.15     0.20

Corporate Bond Fund

     0.15        0.20   

Georgia Tax-Exempt Bond Fund

     N/A        0.20   

High Grade Municipal Bond Fund

     N/A        0.20   

High Income Fund

     N/A        0.20   

Intermediate Bond Fund

     0.15        0.20   

Investment Grade Tax-Exempt Bond Fund

     0.15        0.20   

Limited Duration Fund

     0.15        0.20   

Limited-Term Federal Mortgage Securities Fund

     0.15        0.20   

North Carolina Tax-Exempt Bond Fund

     N/A        0.20   

Seix Floating Rate High Income Fund

     0.15        0.20   

Seix High Yield Fund

     0.15        0.20   

Short-Term Bond Fund

     0.15        0.20   

Short-Term Municipal Bond Fund

     0.15        0.20   

Short-Term U.S. Treasury Securities Fund

     0.15        0.20   

Total Return Bond Fund

     0.15        0.20   

Ultra-Short Bond Fund

     0.15        0.20   

U.S. Government Securities Fund

     0.15        0.20   

U.S. Government Securities Ultra-Short Bond Fund

     0.15        0.20   

Virginia Intermediate Municipal Bond Fund

     N/A        0.20   

Other Fees — The Investment Adviser provides compliance and certain administrative services to the Trust to ensure compliance with applicable laws and regulations. For the year ended March 31, 2013, the Investment Adviser was paid $1,475,865 for these services. Foreside Compliance Services, LLC (“FCS”), an affiliate of the

 

186


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Distributor, provided Chief Compliance Officer services until May 31, 2012. FCS continues to provide an Anti-Money Laundering Officer/ Identity Theft Prevention Officer (“AML Officer”) to the Trust. Foreside Management Services, LLC (“FMS”), an affiliate of the Distributor, provided a Principal Financial Officer (“PFO”) and Treasurer to the Trust until August 30, 2012. Fees paid to FCS and FMS pursuant to these agreements are reflected on the Statements of Operations as a component of the caption “Other Fees”.

Neither FCS nor FMS, nor any of their officers or employees who serve as an officer of the Trust, has any role in determining the Funds’ investment policies or which securities are to be purchased or sold by the Trust or its Funds. Certain officers or employees of FCS and FMS are also officers of the Trust.

Certain officers of the Trust are also officers or employees of the Investment Adviser, FCS, FMS and/or the administrator. Such officers receive no fees from the Trust for serving as officers of the Trust.

Each of the Trustees receive an annual retainer and an additional fee for each meeting attended, plus reimbursement for certain expenses incurred. Trustees receive an additional fee for attendance at committee meetings. Information on the aggregate remuneration paid to the Trustees can be found on the Statements of Operations.

 

4. Capital Stock Transactions

Transactions in capital shares and dollars for the years ended March 31 were as follows:

 

     Shares
Issued
     Shares
Reinvested
     Shares
Redeemed
    Net
Increase
(Decrease)
in Shares
Outstanding
    Proceeds
from Shares
Issued
     Dividends
Reinvested
     Cost of Shares
Redeemed
    Change in
Net Assets
from Capital
Transactions
 

Core Bond Fund

                    

I Shares

                    

3/31/2013

     15,150,156         1,003,059         (22,520,877     (6,367,662     $170,890,899         $11,280,597         $(252,118,768     $(69,947,272

3/31/2012

     20,392,980         2,090,943         (9,816,795     12,667,128        230,213,597         23,374,153         (110,968,103     142,619,647   

A Shares

                    

3/31/2013

     542,528         47,009         (686,479     (96,942     6,113,163         528,383         (7,733,353     (1,091,807

3/31/2012

     765,877         128,545         (678,486     215,936        8,751,020         1,436,036         (7,725,376     2,461,680   

R Shares

                    

3/31/2013

     7,978         10,828         (95,008     (76,202     89,791         121,788         (1,070,887     (859,308

3/31/2012

     29,536         37,600         (134,931     (67,795     341,015         419,820         (1,527,018     (766,183

Corporate Bond Fund

  

              

I Shares

                    

3/31/2013

     1,982,956         434,731         (2,962,851     (545,164     18,861,172         4,110,294         (28,188,098     (5,216,632

3/31/2012

     2,239,751         547,019         (3,251,132     (464,362     21,709,020         5,159,258         (31,426,786     (4,558,508

A Shares

                    

3/31/2013

     327,279         22,799         (380,224     (30,146     3,102,078         216,200         (3,630,328     (312,050

3/31/2012

     349,895         22,375         (140,098     232,172        3,388,655         211,520         (1,348,793     2,251,382   

C Shares

                    

3/31/2013

     103,335         85,637         (475,178     (286,206     996,415         807,662         (4,518,289     (2,714,212

3/31/2012

     389,063         132,375         (250,674     270,764        3,786,500         1,246,228         (2,428,816     2,603,912   

Georgia Tax-Exempt Bond Fund

  

              

I Shares

                    

3/31/2013

     2,831,504         20,748         (2,923,235     (70,983     30,603,687         224,250         (31,648,061     (820,124

3/31/2012

     2,473,798         26,978         (5,122,166     (2,621,390     25,293,185         276,448         (52,043,352     (26,473,719

A Shares

                    

3/31/2013

     54,802         6,860         (43,641     18,021        590,388         74,262         (474,378     190,272   

3/31/2012

     29,451         8,617         (203,039     (164,971     309,150         88,410         (2,008,080     (1,610,520

High Grade Municipal Bond Fund

  

              

I Shares

                    

3/31/2013

     2,956,341         62,484         (2,074,029     944,796        36,263,488         756,064         (25,383,903     11,635,649   

3/31/2012

     563,655         15,614         (1,357,468     (778,199     6,534,232         180,735         (15,441,562     (8,726,595

A Shares

                    

3/31/2013

     369,896         24,900         (137,597     257,199        4,526,852         302,002         (1,682,718     3,146,136   

3/31/2012

     193,685         6,994         (243,908     (43,229     2,304,325         81,083         (2,838,042     (452,634

 

187


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Shares
Issued
     Shares
Reinvested
     Shares
Redeemed
    Net
Increase
(Decrease)
in Shares
Outstanding
    Proceeds
from Shares
Issued
     Dividends
Reinvested
     Cost of Shares
Redeemed
    Change in
Net Assets
from Capital
Transactions
 

High Income Fund

  

              

I Shares

                    

3/31/2013

     63,456,336         4,997,397         (44,901,177     23,552,556        $447,059,168         $35,281,125         $(316,563,071     $165,777,222   

3/31/2012

     78,425,514         4,256,915         (53,175,628     29,506,801        541,743,152         29,132,881         (367,671,391     203,204,642   

A Shares

                    

3/31/2013

     10,886,569         778,455         (9,805,619     1,859,405        76,434,488         5,495,991         (69,328,992     12,601,487   

3/31/2012

     23,049,111         834,723         (19,173,869     4,709,965        160,725,436         5,715,726         (131,175,324     35,265,838   

R Shares

                    

3/31/2013

     1,008,470         136,362         (820,532     324,300        7,132,330         961,340         (5,773,798     2,319,872   

3/31/2012

     1,487,650         151,213         (841,499     797,364        10,293,014         1,031,373         (5,882,343     5,442,044   

Intermediate Bond Fund

  

                 

I Shares

                    

3/31/2013

     16,739,307         2,522,665         (42,042,210     (22,780,238     175,567,635         26,162,518         (440,706,666     (238,976,513

3/31/2012

     23,738,365         3,266,983         (38,971,896     (11,966,548     250,996,340         34,290,444         (413,099,514     (127,812,730

A Shares

                    

3/31/2013

     329,512         40,273         (494,247     (124,462     3,462,213         417,927         (5,156,768     (1,276,628

3/31/2012

     936,767         45,581         (1,148,755     (166,407     10,050,552         478,569         (12,190,515     (1,661,394

R Shares

                    

3/31/2013

     5,295         132         (73,924     (68,497     55,307         1,373         (777,254     (720,574

3/31/2012

     10,373         3,200         (29,012     (15,439     109,961         33,577         (310,324     (166,786

Investment Grade Tax-Exempt Bond Fund

  

              

I Shares

                    

3/31/2013

     25,364,479         2,556,547         (25,177,845     2,743,181        321,422,608         31,929,508         (319,378,757     33,973,359   

3/31/2012

     26,410,054         1,311,551         (43,232,605     (15,511,000     323,474,282         16,073,453         (517,156,994     (177,609,259

A Shares

                    

3/31/2013

     627,050         80,768         (770,243     (62,425     7,963,610         1,008,871         (9,745,117     (772,636

3/31/2012

     954,544         43,300         (644,985     352,859        11,646,090         531,390         (7,842,200     4,335,280   

Limited Duration Fund

  

              

I Shares

                    

3/31/2013

             1,795         (688,748     (686,953             17,573         (6,735,932     (6,718,359

3/31/2012

     4         7,646         (609,652     (602,002     37         74,630         (5,939,770     (5,865,103

Limited-Term Federal Mortgage Securities Fund

  

           

I Shares

                    

3/31/2013

     324,611         16,574         (1,774,341     (1,433,156     3,631,796         185,548         (19,879,334     (16,061,990

3/31/2012

     1,101,980         37,235         (1,794,687     (655,472     12,082,654         408,087         (19,737,886     (7,247,145

A Shares

                    

3/31/2013

     12,930         2,717         (378,991     (363,344     144,522         30,356         (4,222,167     (4,047,289

3/31/2012

     889,986         5,928         (605,230     290,684        9,649,651         64,737         (6,584,528     3,129,860   

C Shares

                    

3/31/2013

     19,025         2,933         (145,883     (123,925     212,895         32,830         (1,632,101     (1,386,376

3/31/2012

     41,588         6,307         (79,032     (31,137     457,164         69,020         (867,606     (341,422

North Carolina Tax-Exempt Bond Fund

  

              

I Shares

                    

3/31/2013

     814,545         4,249         (856,799     (38,005     8,700,825         45,645         (9,203,531     (457,061

3/31/2012

     765,775         4,554         (1,254,105     (483,776     7,789,791         46,418         (12,663,761     (4,827,552

A Shares

                    

3/31/2013

     27,037         858         (3,042     24,853        289,648         9,177         (32,515     266,310   

3/31/2012

     2,986         1,170         (15,166     (11,010     29,769         11,937         (157,880     (116,174

 

188


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Shares
Issued
     Shares
Reinvested
     Shares
Redeemed
    Net
Increase
(Decrease)
in Shares
Outstanding
    Proceeds
from Shares
Issued
     Dividends
Reinvested
     Cost of Shares
Redeemed
    Change in
Net Assets
from Capital
Transactions
 

Seix Floating Rate High Income Fund

  

              

I Shares

                    

3/31/2013

     404,801,992         12,393,422         (166,301,380     250,894,034        $3,623,676,264         $110,642,663         $1,480,951,289)        $2,253,367,638   

3/31/2012

     275,791,116         11,186,120         (241,379,272     45,597,964        2,441,753,739         98,106,958         (2,102,029,721     437,830,976   

A Shares

                    

3/31/2013

     7,494,467         186,533         (2,545,591     5,135,409        67,443,345         1,664,277         (22,575,703     46,531,919   

3/31/2012

     4,099,882         202,165         (6,179,275     (1,877,228     36,377,294         1,775,951         (53,634,785     (15,481,540

C Shares

                    

3/31/2013

     1,666,689         77,164         (686,469     1,057,384        14,952,802         688,547         (6,107,635     9,533,714   

3/31/2012

     1,550,277         72,348         (677,658     944,967        13,743,006         634,518         (5,893,030     8,484,494   

Seix High Yield Fund

  

              

I Shares

                    

3/31/2013

     87,306,757         4,448,330         (136,305,874     (44,550,787     862,445,636         44,104,060         (1,351,388,077     (444,838,381

3/31/2012

     151,932,100         5,859,596         (109,808,875     47,982,821        1,451,525,329         56,756,503         (1,057,583,078     450,698,754   

A Shares

                    

3/31/2013

     7,150,408         299,831         (4,219,958     3,230,281        69,009,998         2,932,488         (41,347,650     30,594,836   

3/31/2012

     9,201,234         153,259         (8,919,515     434,978        85,104,817         1,457,762         (84,049,601     2,512,978   

R Shares

                    

3/31/2013

     5,113         8,840         (32,159     (18,206     50,214         87,833         (316,844     (178,797

3/31/2012

     10,317         10,981         (102,436     (81,138     102,400         106,378         (1,007,659     (798,881

Short-Term Bond Fund

  

              

I Shares

                    

3/31/2013

     3,470,249         97,589         (26,854,233     (23,286,395     34,716,711         976,861         (268,943,424     (233,249,852

3/31/2012

     9,453,882         200,834         (13,714,068     (4,059,352     94,318,654         2,000,868         (136,769,246     (40,449,724

A Shares

                    

3/31/2013

     26,407         2,368         (69,779     (41,004     264,900         23,770         (699,939     (411,269

3/31/2012

     218,321         5,547         (241,210     (17,342     2,179,023         55,369         (2,410,875     (176,483

C Shares

                    

3/31/2013

     26,988         1,026         (86,555     (58,541     270,704         10,289         (867,776     (586,783

3/31/2012

     97,766         2,782         (69,133     31,415        977,290         27,760         (690,750     314,300   

Short-Term Municipal Bond Fund

  

              

I Shares

                    

3/31/2013

     558,184         59,062         (60,939     556,307        5,751,667         589,875         (651,080     5,690,462   

3/31/2012

     621,809         4,163         (2,168,402     (1,542,430     6,690,665         44,476         (23,292,490     (16,557,349

A Shares

                    

3/31/2013

     50,302         28,732         (30,895     48,139        527,368         286,738         (332,298     481,808   

3/31/2012

     9,208         12,958         (102,904     (80,738     99,225         137,891         (1,095,148     (858,032

Short-Term U.S. Treasury Securities Fund

   

              

I Shares

                    

3/31/2013

     115,958         2,083         (634,242     (516,201     1,154,142         20,694         (6,305,766     (5,130,930

3/31/2012

     525,197         10,479         (1,946,804     (1,411,128     5,269,886         105,295         (19,695,687     (14,320,506

A Shares

                    

3/31/2013

     6,636         921         (141,657     (134,100     65,903         9,130         (1,405,325     (1,330,292

3/31/2012

     60,014         3,939         (267,935     (203,982     605,128         39,509         (2,709,304     (2,064,667

C Shares

                    

3/31/2013

     88,635         1,683         (202,166     (111,848     879,321         16,650         (2,006,700     (1,110,729

3/31/2012

     188,447         10,758         (164,965     34,240        1,902,642         107,432         (1,658,623     351,451   

 

189


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Shares
Issued
     Shares
Reinvested
     Shares
Redeemed
    Net
Increase
(Decrease)
in Shares
Outstanding
    Proceeds
from Shares
Issued
     Dividends
Reinvested
     Cost of Shares
Redeemed
    Change in
Net Assets
from Capital
Transactions
 

Total Return Bond Fund

  

              

I Shares

                    

3/31/2013

     53,695,087         3,450,575         (38,033,874     19,111,788        $587,970,113         $37,602,169         $(415,117,943)        $210,454,339   

3/31/2012

     51,033,539         3,173,130         (27,603,726     26,602,943        552,395,915         34,158,638         (297,254,825     289,299,728   

A Shares

                    

3/31/2013

     2,420,995         146,515         (2,045,673     521,837        27,388,217         1,649,647         (23,091,925     5,945,939   

3/31/2012

     3,135,704         131,126         (918,414     2,348,416        35,067,641         1,456,981         (10,278,559     26,246,063   

R Shares

                    

3/31/2013

     5,860,073         153,477         (1,164,359     4,849,191        64,188,443         1,670,614         (12,767,355     53,091,702   

3/31/2012

     1,784,803         36,059         (207,453     1,613,409        19,283,630         388,424         (2,238,521     17,433,533   

Ultra-Short Bond Fund

  

              

I Shares

                    

3/31/2013

     10,370,480         75,875         (10,825,088     (378,733     103,337,932         756,107         (107,945,587     (3,851,548

3/31/2012

     8,026,217         80,910         (8,441,065     (333,938     79,641,461         802,231         (83,676,254     (3,232,562

U.S. Government Securities Fund

  

              

I Shares

                    

3/31/2013

     1,111,216         195,444         (1,743,213     (436,553     9,711,509         1,657,012         (15,235,513     (3,866,992

3/31/2012

     1,845,938         313,232         (3,101,291     (942,121     16,730,960         2,768,982         (27,681,561     (8,181,619

A Shares

                    

3/31/2013

     14,273         8,436         (31,982     (9,273     122,865         71,433         (280,206     (85,908

3/31/2012

     198,829         13,277         (247,574     (35,468     1,862,883         117,305         (2,255,734     (275,546

C Shares

                    

3/31/2013

     2,372         10,185         (60,846     (48,289     21,123         86,065         (533,000     (425,812

3/31/2012

     41,590         16,504         (68,197     (10,103     377,190         145,610         (607,140     (84,340

U.S. Government Securities Ultra-Short Bond Fund

  

         

I Shares

                    

3/31/2013

     175,905,609         1,420,235         (148,517,021     28,808,823        1,788,421,958         14,444,404         (1,510,221,408     292,644,954   

3/31/2012

     145,526,560         1,470,298         (110,166,678     36,830,180        1,470,590,379         14,858,009         (1,113,045,175     372,403,213   

Virginia Intermediate Municipal Bond Fund

  

           

I Shares

                    

3/31/2013

     1,419,812         107,996         (1,663,125     (135,317     15,183,825         1,144,606         (17,855,818     (1,527,387

3/31/2012

     1,336,273         84,751         (3,744,900     (2,323,876     14,125,962         898,136         (39,516,640     (24,492,542

A Shares

                    

3/31/2013

     159,410         19,266         (312,015     (133,339     1,700,748         205,329         (3,340,387     (1,434,310

3/31/2012

     191,011         18,685         (254,130     (44,434     2,022,146         197,534         (2,694,943     (475,263

 

5. Management Ownership

At March 31, 2013, 41.32% of the outstanding shares of Short-Term Municipal Bond Fund were held by the Adviser.

 

6. Investment Transactions

The cost of security purchases and the proceeds from sales and maturities of securities, excluding securities maturing less than one year from acquisition and U.S. government securities, for the year ended March 31, 2013 were as follows:

 

Fund

   Purchases      Sales and
Maturities
 

Core Bond Fund

     $51,830,514         $95,717,507   

Corporate Bond Fund

     46,789,363         55,496,060   

Georgia Tax-Exempt Bond Fund

     73,040,669         81,522,794   

High Grade Municipal Bond Fund

     98,852,333         84,233,346   

High Income Fund

     1,035,504,584         870,498,483   

Intermediate Bond Fund

     134,484,607         272,481,237   

 

190


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Fund

   Purchases      Sales and
Maturities
 

Investment Grade Tax-Exempt Bond Fund

     $1,455,358,117         $1,382,345,034   

Limited Duration Fund

     2,034,940         5,161,143   

Limited-Term Federal Mortgage Securities Fund

     1,131,420         1,076,563   

North Carolina Tax-Exempt Bond Fund

     39,553,038         40,024,597   

Seix Floating Rate High Income Fund

     4,741,634,036         2,832,460,511   

Seix High Yield Fund

     1,516,186,612         1,888,395,070   

Short-Term Bond Fund

     86,461,135         232,661,282   

Short-Term Municipal Bond Fund

     21,707,808         18,655,046   

Total Return Bond Fund

     309,715,520         252,961,855   

Ultra-Short Bond Fund

     73,489,207         72,680,657   

U.S. Government Securities Ultra-Short Bond Fund

     95,088,726         92,173,001   

Virginia Intermediate Municipal Bond Fund

     51,217,215         57,085,653   

The cost of security purchases and proceeds from sales and maturities of U.S. government securities, excluding short-term investments, for the year end March 31, 2013 were as follows:

 

Fund

   Purchases      Sales and
Maturities
 

Core Bond Fund

     $640,855,321         $673,755,766   

Intermediate Bond Fund

     1,115,559,234         1,148,802,977   

Limited Duration Fund

     3,789,746         6,918,618   

Limited-Term Federal Mortgage Securities Fund

     40,480,293         60,408,065   

Short-Term Bond Fund

     197,465,577         278,094,083   

Short-Term U.S. Treasury Securities Fund

     2,239,659         8,878,763   

Total Return Bond Fund

     1,676,178,196         1,456,635,385   

Ultra-Short Bond Fund

     63,580,753         70,647,647   

U.S. Government Securities Fund

     29,494,607         32,603,450   

U.S. Government Securities Ultra-Short Bond Fund

     3,386,857,012         3,038,005,335   

 

7. Federal Income Tax Information

The following information is presented on an income tax basis and takes into consideration differences between amounts for financial statement and income tax purposes. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature (i.e., foreign currency transactions and return of capital on securities), such amounts are reclassified within the composition of net assets based on their U.S. federal tax-basis treatment; temporary differences do not require reclassification.

The cost of investments and aggregate gross unrealized appreciation and depreciation for securities held by the Funds at March 31, 2013 were as follows:

 

Fund

   Tax Cost      Aggregate
Gross
Unrealized
Appreciation
     Aggregate
Gross
Unrealized
(Depreciation)
    Net
Unrealized
Appreciation
(Depreciation)
 

Core Bond Fund

     $410,298,523         $9,839,289         $(375,173     $9,464,116   

Corporate Bond Fund

     68,868,736         3,309,521         (306,010     3,003,511   

Georgia Tax-Exempt Bond Fund

     147,762,560         9,135,959         (523,327     8,612,632   

High Grade Municipal Bond Fund

     62,460,924         5,234,380         (139,763     5,094,617   

High Income Fund

     948,778,563         43,260,862         (3,986,720     39,274,142   

Intermediate Bond Fund

     925,984,176         19,410,680         (514,049     18,896,631   

Investment Grade Tax-Exempt Bond Fund

     978,753,499         55,748,872         (965,260     54,783,612   

Limited Duration Fund

     9,318,898         42,003         (84     41,919   

Limited-Term Federal Mortgage Securities Fund

     17,540,584         431,556         (13,736     417,820   

North Carolina Tax-Exempt Bond Fund

     49,546,412         2,397,954         (214,478     2,183,476   

 

191


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

Fund

   Tax Cost      Aggregate
Gross
Unrealized
Appreciation
     Aggregate
Gross
Unrealized
(Depreciation)
    Net
Unrealized
Appreciation
(Depreciation)
 

Seix Floating Rate High Income Fund

     $6,687,380,556         $74,057,242         $(8,513,556     $65,543,686   

Seix High Yield Fund

     1,875,140,725         123,599,688         (6,454,595     117,145,093   

Short-Term Bond Fund

     81,662,967         1,389,439         (30,124     1,359,315   

Short-Term Municipal Bond Fund

     15,736,857         126,964         (4,914     122,050   

Short-Term U.S. Treasury Securities Fund

     12,011,003         104,450                104,450   

Total Return Bond Fund

     1,421,617,044         31,615,814         (1,438,005     30,177,809   

Ultra-Short Bond Fund

     110,252,260         611,537         (26,343     585,194   

U.S. Government Securities Fund

     38,698,114         896,335                896,335   

U.S. Government Securities Ultra-Short Bond Fund

     2,308,411,594         29,992,542         (488,676     29,503,866   

Virginia Intermediate Municipal Bond Fund

     145,195,153         10,332,109         (311,238     10,020,871   

Amounts designated as “—” are $0.

The tax character of distributions paid to shareholders during the year ended March 31, 2013 was as follows:

 

     Distributions paid from                       

Fund

   Net
Investment
Income*
     Net Long
Term Capital
Gains
     Tax-Exempt
Distributions**
     Return
of
Capital
     Total
Distributions
Paid*
 

Core Bond Fund

     $13,062,342         $1,579,722         $ —         $—         $14,642,064   

Corporate Bond Fund

     3,858,458         1,826,514                         5,684,972   

Georgia Tax-Exempt Bond Fund

     38                 4,837,674                 4,837,712   

High Grade Municipal Bond Fund

     1,657,649         87,877         1,567,327                 3,312,853   

High Income Fund

     50,900,279                                 50,900,279   

Intermediate Bond Fund

     30,286,567         18,983,206                         49,269,773   

Investment Grade Tax-Exempt Bond Fund

     26,205,811         5,046,345         20,258,662                 51,510,818   

Limited Duration Fund

     41,881                                 41,881   

Limited-Term Federal Mortgage Securities Fund

     358,698                                 358,698   

North Carolina Tax-Exempt Bond Fund

     782                 1,486,154                 1,486,936   

Seix Floating Rate High Income Fund

     201,818,665                                 201,818,665   

Seix High Yield Fund

     131,968,567                                 131,968,567   

Short-Term Bond Fund

     3,541,696                                 3,541,696   

Short-Term Municipal Bond Fund

     175,546         856,881         42,250                 1,074,677   

Short-Term U.S. Treasury Securities Fund

     42,985         34,851                         77,836   

Total Return Bond Fund

     38,738,671         9,438,677                         48,177,348   

Ultra-Short Bond Fund

     1,236,755                                 1,236,755   

U.S. Government Securities Fund

     1,361,976         740,714                         2,102,690   

U.S. Government Securities Ultra-Short Bond Fund

     18,391,336                                 18,391,336   

Virginia Intermediate Municipal Bond Fund

     474,292         1,955,122         4,648,012                 7,077,426   

 

* Net investment income includes taxable market discount income and net short-term capital gains, if any.

 

** The Funds hereby designate these amounts as Exempt Interest Dividends.

Amounts designated as “—” are $0.

The tax character of distributions paid to shareholders during the year ended March 31, 2012 were as follows:

 

     Distributions paid from                       

Fund

   Net
Investment
Income*
     Net Long
Term Capital
Gains
     Tax-Exempt
Distributions**
     Return
of
Capital
     Total
Distributions
Paid*
 

Core Bond Fund

     $19,610,420         $9,028,880         $ —         $—         $28,639,300   

Corporate Bond Fund

     2,928,703         5,151,522                         8,080,225   

Georgia Tax-Exempt Bond Fund

     233                 5,460,125                 5,460,358   

High Grade Municipal Bond Fund

     45,667         83,915         1,642,472                 1,772,054   

 

192


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Distributions paid from                       

Fund

   Net
Investment
Income*
     Net Long
Term Capital
Gains
     Tax-Exempt
Distributions**
     Return
of
Capital
     Total
Distributions
Paid*
 

High Income Fund

     $44,656,035         $1,105,381         $—         $—         $45,761,416   

Intermediate Bond Fund

     42,998,138         20,555,766                         63,553,904   

Investment Grade Tax-Exempt Bond Fund

     1,439,202         5,529,959         21,724,985                 28,694,146   

Limited Duration Fund

     112,879                                 112,879   

Limited-Term Federal Mortgage Securities Fund

     877,549                                 877,549   

North Carolina Tax-Exempt Bond Fund

     3,417                 1,656,977                 1,660,394   

Seix Floating Rate High Income Fund

     191,455,418                                 191,455,418   

Seix High Yield Fund

     135,627,746                                 135,627,746   

Short-Term Bond Fund

     6,874,827                                 6,874,827   

Short-Term Municipal Bond Fund

     29,571         276,015         582,884                 888,470   

Short-Term U.S. Treasury Securities Fund

     172,092         249,541                         421,633   

Total Return Bond Fund

     37,241,446         9,757,510                         46,998,956   

Ultra-Short Bond Fund

     1,418,011                                 1,418,011   

U.S. Government Securities Fund

     2,267,898         1,470,816                         3,738,714   

U.S. Government Securities Ultra-Short Bond Fund

     18,399,183                                 18,399,183   

Virginia Intermediate Municipal Bond Fund

     160,219         1,542,755         5,228,453                 6,931,427   

 

* Net investment income includes taxable market discount income and net short-term capital gains, if any.

 

** The Funds hereby designate these amounts as Exempt Interest Dividends.

Amounts designated as “—” are $0 or have been rounded to $0.

As of March 31, 2013, the components of distributable earnings (accumulated losses) on a federal income tax basis were as follows:

 

     Undistributed      Long Term
Capital
Gains
     Net Unrealized
Appreciation
(Depreciation)*
     Loss
Carryforwards
and Deferrals
       

Fund

   Tax Exempt
Income
     Ordinary
Income
             Total  

Core Bond Fund

     $ —         $6,447         $5,053,177         $ 9,464,116         $ (853,658     $13,670,082   

Corporate Bond Fund

             267,377         1,487,623         3,003,511                4,758,511   

Georgia Tax-Exempt Bond Fund

             536,429                 8,612,632         (1,574,453     7,574,608   

High Grade Municipal Bond Fund

     125,911         229,389                 5,094,617                5,449,917   

High Income Fund

             11,501,634                 39,274,144                50,775,778   

Intermediate Bond Fund

                     14,841,641         18,896,631                33,738,272   

Investment Grade Tax-Exempt Bond Fund

     1,333,611         5,096,050         300,583         54,783,612                61,513,856   

Limited Duration Fund

                             41,919         (1,457,939     (1,416,020

Limited-Term Federal Mortgage Securities Fund

                             417,820         (12,252,227     (11,834,407

North Carolina Tax-Exempt Bond Fund

     37,433                 1,186,858         2,183,476                3,407,767   

Seix Floating Rate High Income Fund

             19,488,117                 65,543,685         (46,697,756     38,334,046   

Seix High Yield Fund

             8,765,675         29,023,659         117,145,093                154,934,427   

Short-Term Bond Fund

             114,335                 1,359,315         (2,112,909     (639,259

Short-Term Municipal Bond Fund

             76,689                 122,050                198,739   

Short-Term U.S. Treasury Securities Fund

             1,333         16,380         104,450                122,163   

Total Return Bond Fund

                     10,891,234         30,288,844         (6,283,637     34,896,441   

Ultra-Short Bond Fund

             98,912                 585,194         (3,256,520     (2,572,414

U.S. Government Securities Fund

             12,404         112,599         896,335         (113,208     908,130   

 

193


NOTES TO FINANCIAL STATEMENTS  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

 

     Undistributed      Long Term
Capital
Gains
     Net Unrealized
Appreciation
(Depreciation)*
     Loss
Carryforwards
and Deferrals
       

Fund

   Tax
Exempt
Income
     Ordinary
Income
             Total  

U.S. Government Securities Ultra- Short Bond Fund

     $—         $1,553,037         $—         $29,503,865         $(13,905,311     $17,151,591   

Virginia Intermediate Municipal Bond Fund

     379,200         342,328         1,042,800         10,020,871                11,785,199   

 

* The differences between book-basis and tax basis unrealized appreciation (depreciation) is attributable primarily to tax deferral of losses on wash sales, futures contract mark to market, dividends payable, forward contracts mark to market 988(a)(1)(b), and mark to market on credit default swaps.

Amounts designated as “—” are $0.

The Funds utilize the provisions of the federal income tax laws that provide for the carryforward of capital losses from prior years, offsetting such losses against any future realized capital gains. Under the Regulated Investment Company Modernization Act of 2010 (the “Act”), net capital losses recognized in taxable years beginning after December 22, 2010 (“post-enactment”), may be carried forward indefinitely, and their character is retained as short-term and/or long-term losses. Previously, net capital losses were carried forward for eight years and treated as short-term losses (“pre-enactment”). The Act requires that post-enactment net capital losses be used before pre-enactment net capital losses.

As of March 31, 2013, the pre-enactment accumulated capital loss carryforwards and expiration dates were as follows:

 

     Expires  

Fund

   2014      2015      2016      2017      2018      2019      Total  

Georgia Tax-Exempt Bond Fund

     $—         $—         $—         $119,406         $1,455,047         $—         $1,574,453   

Limited Duration Fund

                             356,074         1,101,865                 1,457,939   

Limited-Term Federal Mortgage Securities Fund

     5,208,560         4,062,767         2,980,391                                 12,251,718   

Seix Floating Rate High Income Fund

                     17,710,411         28,987,345                         46,697,756   

Short-Term Bond Fund

                                     2,112,909                 2,112,909   

Ultra-Short Bond Fund

     572,772         667,058                 202,726         1,362,740         451,224         3,256,520   

U.S. Government Securities Ultra-Short Bond Fund

                                             8,408,484         8,408,484   

Amounts designated as “—” are $0.

Capital loss carryforwards may be applied to offset future realized capital gains and may thus reduce future capital gain distributions.

During the year ended March 31, 2013 the following Funds utilized capital loss carryforwards as follows:

 

Fund

   Amount  

Georgia Tax-Exempt Bond Fund

     $4,725,574   

Limited Duration Fund

     54,182   

Limited-Term Federal Mortgage Securities Fund

     915,079   

North Carolina Tax-Exempt Bond Fund

     789,078   

Seix Floating Rate High Income Fund

     25,889,136   

Seix High Yield Fund

     13,691,622   

Short-Term Bond Fund

     4,308,532   

Ultra-Short Bond Fund

     448,384   

U.S. Government Securities Ultra-Short Bond Fund

     7,485,167   

 

194


NOTES TO FINANCIAL STATEMENTS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2013

 

During the year ended March 31, 2013 the following Funds had capital loss carryforwards that expired in fiscal 2013 as follows:

 

Fund

   Amount  

Limited-Term Federal Mortgage Securities Fund

     $2,357,037   

Ultra-Short Bond Fund

     100,049   

Net capital losses incurred after October 31 and within the taxable year are deemed to arise on the first business day of the Funds’ next taxable year. During the year ended March 31, 2013, the following Funds had net capital losses:

 

Fund

   Short Term      Long Term      Total  

Core Bond Fund

     $853,658         $—         $853,658   

Limited-Term Federal Mortgage Securities Fund

     509                 509   

Total Return Bond Fund

     6,283,637                 6,283,637   

U.S. Government Securities Fund

     113,208                 113,208   

U.S. Government Securities Ultra-Short-Bond Fund

     4,998,680         498,147         5,496,827   

Pursuant to federal income tax rules applicable to regulated investment companies, the Funds may elect to treat certain capital losses between November 1 and March 31 and late year ordinary losses, (i) ordinary losses between January 1 and March 31, and (ii) specified ordinary and currency losses between November 1 and March 31, as occurring on the first day of the following tax year. For the year ended March 31, 2013, any amount of losses elected within the tax return will not be recognized for federal income tax purposes until April 1, 2013.

 

8. Recent Accounting Pronouncements

In December 2011, Accounting Standards Update (“ASU”) No. 2011-11, “Disclosures about Offsetting Assets and Liabilities,” was issued and is effective for interim and annual periods beginning after January 1, 2013. The ASU enhances disclosure requirements with respect to an entity’s rights of setoff and related arrangements associated with its financial and derivative instruments. Management is currently evaluating the impact the adoption of ASU No. 2011-11 may have on the Funds’ financial statement disclosures.

 

9. Subsequent Events

Management has evaluated subsequent events through the date these financial statements were issued for purposes of recognition or disclosure in the financial statements. Management has determined there are no material events that would require disclosure in the Funds’ financial statements through this date.

 

195


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

 

To the Board of Trustees and Shareholders of RidgeWorth Funds:

In our opinion, the accompanying statements of assets and liabilities, including the schedules of portfolio investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Core Bond Fund, Corporate Bond Fund, Georgia Tax-Exempt Bond Fund, High Grade Municipal Bond Fund, High Income Fund, Intermediate Bond Fund, Investment Grade Tax-Exempt Bond Fund, Limited Duration Fund, Limited-Term Federal Mortgage Securities Fund, North Carolina Tax-Exempt Bond Fund, Seix Floating Rate High Income Fund, Seix High Yield Fund, Short-Term Bond Fund, Short-Term Municipal Bond Fund, Short-Term U.S. Treasury Securities Fund, Total Return Bond Fund, Ultra-Short Bond Fund, U.S. Government Securities Fund, U.S. Government Securities Ultra-Short Bond Fund, and Virginia Intermediate Municipal Bond Fund (twenty of the funds constituting RidgeWorth Funds, collectively the “Funds”) at March 31, 2013, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at March 31, 2013 by correspondence with the custodian and brokers, and application of alternative auditing procedures where securities purchased had not been received, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

May 24, 2013

Boston, Massachusetts

 

196


OTHER FEDERAL TAX INFORMATION

 

RRIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

The following Funds hereby designate the following amounts as long term capital gain distributions:

 

Fund

   Amount  

Core Bond Fund

     $1,579,722   

Corporate Bond Fund

     1,826,514   

High Grade Municipal Bond Fund

     87,877   

Intermediate Bond Fund

     18,983,206   

Investment Grade Tax-Exempt Bond Fund

     5,046,345   

Short-Term Municipal Bond Fund

     856,881   

Short-Term U.S. Treasury Securities Fund

     34,851   

Total Return Bond Fund

     9,438,677   

U.S. Government Securities Fund

     740,714   

Virginia Intermediate Municipal Bond Fund

     1,955,122   

For corporate shareholders, the following percentages of the total ordinary income distributions paid by the following Funds during the fiscal year ended March 31, 2013 qualify for the corporate dividends received deduction:

 

Fund

   Dividends Received
Deduction
 

Core Bond Fund

     1.54

Corporate Bond Fund

     4.29   

High Income Fund

     0.61   

Intermediate Bond Fund

     1.93   

Seix Floating Rate High Income Fund

     0.11   

Seix High Yield Fund

     0.07   

Total Return Bond Fund

     1.32   

For the year ended March 31, 2013, the following Funds paid qualified dividend income:

 

Fund

   Qualified Dividend
Income
 

Core Bond Fund

     1.54

Corporate Bond Fund

     4.29   

High Income Fund

     0.61   

Intermediate Bond Fund

     1.93   

Seix Floating Rate High Income Fund

     0.11   

Seix High Yield Fund

     0.07   

Total Return Bond Fund

     1.31   

 

197


TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Set forth below are the names, age, position with the Trust, length of term of office, and the principal occupations and other directorships held during at least the last five years of each of the persons currently serving as a Trustee of the Trust. Unless otherwise noted, the address of each Trustee and officer is c/o RidgeWorth Investments®, 3333 Piedmont Road, Suite 1500, Atlanta, Georgia 30305.

 

Name and Age   Position
Held with
the Trust
  Term of Office
and Length of
Time Served
 

Principal Occupation(s)

During the Past 5 Years

 

Number of
Portfolios in the
RidgeWorth
Complex Overseen

by Trustees

   

Other Directorships
Held By Trustee
During the Past

5 Years

Tim E. Bentsen

Age: 59

  Trustee   Indefinite; since 2012   Retired. Audit Partner and Account Executive (1993 - 2012); Lead Area Managing Partner (2005 - 2009); Office Managing Partner (2003 - 2009), KPMG LLP.     33      None

Jeffrey M. Biggar

Age: 63

  Trustee   Indefinite; since 2007   Managing Director, Little Mountain Group, LLC (an independent Registered Investment Advisor consulting firm) (since 2011); Chief Operating Officer, Cedar Brook Financial Partners LLC (2008 - 2010); Chief Executive Officer and Senior Managing Director, Sterling (National City Corp.) (2000 - 2006).     33      GenSpring Trust

George C. Guynn

Age: 70

  Trustee   Indefinite; since 2008   Retired. President (1996 - 2006) and Chief Executive Officer (1995 - 2006) Federal Reserve Bank of Atlanta.     33      Genuine Parts Company; Oxford Industries; John Wieland Homes and Neighborhoods Inc.; Acuity Brands Inc.; GenSpring Trust

Sidney E. Harris

Age: 63

  Trustee   Indefinite; since 2004   Professor (since 1997), Dean (1997 - 2004), J. Mack Robinson College of Business, Georgia State University.     33      Total System Services, Inc.; GenSpring Trust

Warren Y. Jobe

Age: 72

  Trustee   Indefinite; since 2004   Retired. Executive Vice President and Chief Financial Officer, Georgia Power Company (1982 - 1998) and Senior Vice President, Southern Company (1998 - 2001).     33      WellPoint, Inc; UniSource Energy Corp.

Connie D. McDaniel

Age: 55

  Trustee   Indefinite; since 2005   Vice President, Chief of Internal Audit, Corporate Audit Department (since 2009); Vice President Global Finance Transformation (2007 - 2009); Vice President and Controller (1999 - 2007), The Coca-Cola Company.     33      None

 

Name, Address

and Age

  Position(s) Held with
the Trust
  Term of Office
and Length of
Time Served
 

Principal Occupation(s)

During the Past 5 Years

Julia R. Short

RidgeWorth

Investments

3333 Piedmont Road,

NE Suite 1500

Atlanta, GA 30305

Age: 40

  President and Chief Executive Officer   One year; since 2007   Managing Director, Product Manager, RidgeWorth Investments (since 2004).

Joseph M. O’Donnell

RidgeWorth

Investments

3333 Piedmont Road,

NE Suite 1500

Atlanta, GA 30305

Age: 58

  Executive Vice President and Chief Compliance Officer   One year; since 2011  

Managing Director of Fund Compliance, RidgeWorth Investments (since 2011);

Executive Vice President and Chief Compliance Officer of the ING Funds (2004 - 2011); Chief Compliance Officer of ING Investments, LLC (2006 - 2008 and October 2009 - 2011); and Investment Advisor Chief Compliance Officer, Directed Services LLC (2006 - 2008 and 2009 - 2011).

Denise R. Lewis RidgeWorth

Investments

3333 Piedmont Road,

NE Suite 1500

Atlanta, GA 30305

Age: 49

  Treasurer and Chief Financial Officer   One year; since August 2012  

Director of Fund Administration, RidgeWorth Investments (since 2012);

Vice President of Fund Analysis and Reporting, ING Investments Management, LLC (2006 - 2012).

 

198


TRUSTEES AND OFFICERS OF THE RIDGEWORTH FUNDS  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Name, Address

and Age

  Position(s) Held with
the Trust
  Term of Office
and Length of
Time Served
 

Principal Occupation(s)

During the Past 5 Years

Benjamin H. Lowe

RidgeWorth

Investments

3333 Piedmont Road, NE Suite 1500

Atlanta, GA 30305

Age: 35

  Assistant Treasurer   One year; since March 2012  

Director of Fund Administration, RidgeWorth Investments (since 2011);

Fund Controller, ALPS Fund Services, Inc. (2005 - 2011).

James Bacik State Street Bank and

Trust Co.

4 Copley Place, 5th Fl.

Boston, MA 02116

Age: 38

  Assistant Treasurer   One year; since 2010   Assistant Vice President, State Street Bank and Trust Company (since 2001).1

James M. Atwood Foreside Compliance Services, LLC

Three Canal Plaza,

Suite 100 Portland,

ME 04101

Age: 47

  Anti-Money Laundering Officer and Identity Theft Prevention Officer   One year; since 2010   Compliance Analyst, Foreside Compliance Services, LLC (since 2007); personal sabbatical (2004 - 2007); Attorney, Pierce Atwood (law firm) (2001 - 2004).

Francine S. Hayes

State Street Bank and Trust Company

Mailstop CPH 0326

4 Copley Place

Boston, MA 02116

Age: 45

  Secretary and Chief Legal Officer   One year; since August 2012   Vice President and Managing Counsel, State Street Bank and Trust Company (since1995).1

Julie Tedesco

State Street Bank and Trust Company

Mailstop CPH 0326

4 Copley Place

Boston, MA 02116

Age: 55

  Assistant Secretary   One year; since 2010   Senior Vice President and Senior Managing Counsel, State Street Bank and Trust Company (since 2000).1

 

1  During the year indicated the Officer has held various positions at State Street Bank and Trust Company and has provided his or her current title.

 

199


ADDITIONAL INFORMATION

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

ANNUAL APPROVAL OF INVESTMENT ADVISORY AND SUBADVISORY AGREEMENTS

The continuance of the Trust’s investment advisory agreement with RidgeWorth Capital Management, Inc. (the “Adviser”) and subadvisory agreements between the Adviser and each of Seix Investment Advisors LLC and StableRiver Capital Management LLC (together, the “Subadvisers”) must be specifically approved at least annually by (i) the vote of the Trustees or a vote of the shareholders of the Funds and (ii) the vote of a majority of the Trustees who are not parties to the agreements or “interested persons” of any party thereto (the “Independent Trustees”), as defined in the Investment Company Act of 1940, cast in person at a meeting called for the purpose of voting on such approval. New advisory agreements for the Trust are also subject to such approval initially and annually after their initial term is complete.

Each year, the Board of Trustees calls and holds a meeting to decide whether to approve and/or renew the Trust’s agreements for the upcoming year. In preparation for the meeting, the Board requests and reviews a wide variety of information from the Adviser and Subadvisers. The Trustees use this information, as well as other information that the Adviser, Subadvisers, and other service providers may submit to the Board, to help them decide whether to approve and/or renew the agreements.

In considering the renewal of the agreements with the Adviser and Subadvisers, the Board requested and received material from the Adviser and Subadvisers in preparation for a special meeting of the Board held on October 11, 2012, and requested and reviewed additional material from the Adviser and Subadvisers in preparation for its quarterly meeting held on November 15, 2012, at which it specifically considered the renewal of the agreements. Such material included, among other things, information about: (a) the quality of the Adviser’s and Subadvisers’ investment management and other services; (b) the Adviser’s and Subadvisers’ investment management personnel; (c) the Adviser’s and Subadvisers’ operations and financial condition; (d) the Adviser’s and Subadvisers’ brokerage practices (including any soft dollar arrangements) and investment strategies; (e) the level of the advisory fees that the Adviser and Subadvisers charge the Funds compared with the fees they charge to comparable mutual funds or accounts; (f) the Funds’ overall fees and operating expenses compared with similar mutual funds; (g) the level of the Adviser’s and Subadvisers’ profitability from their Fund-related operations; (h) the Adviser’s and Subadvisers’ compliance systems; (i) the Adviser’s and Subadvisers’ policies and procedures for personal securities transactions; (j) the Adviser’s and Subadvisers’ reputation, expertise, and resources in domestic financial markets; and (k) the Funds’ performance compared with similar mutual funds. The Board also received a memorandum from fund counsel regarding the responsibilities of the Trustees in connection with their consideration of the agreements.

At the meetings, representatives from the Adviser and Subadvisers presented additional oral and written information to the Board to help the Board evaluate the Adviser’s and Subadvisers’ fees and other aspects of the agreements. The Board also considered information presented by the Adviser, Subadvisers, and other service providers at meetings held throughout the year. The Trustees discussed the written materials, oral presentations, and any other information that the Board received, and considered the approval of the agreements in light of this information.

Based on the Board’s deliberations and evaluation of the information it received, the Board, all of whose members are Independent Trustees, approved the renewal of the agreements with the Adviser and Subadvisers and determined that the compensation under the agreements is fair and reasonable in light of the services to be performed. The Board considered the following specific factors, none of which was controlling, and made the following conclusions:

Nature, Extent, and Quality of Services

The Board received and considered information regarding the nature, extent, and quality of services to be provided to the Funds by the Adviser and Subadvisers. In this regard, the Trustees evaluated, among other things, the Adviser’s and Subadvisers’ personnel, experience, track record, and compliance program. The Board considered the background and experience of the Adviser’s and Subadvisers’ senior management and the expertise of, and amount of attention expected to be given to the Funds by, their portfolio management teams. The Board reviewed the qualifications, backgrounds, and responsibilities of the portfolio managers responsible for the day-to-day management of the Funds. The Board also reviewed information pertaining to the Adviser’s and Subadvisers’

 

200


ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

ANNUAL APPROVAL OF INVESTMENT ADVISORY AND SUBADVISORY AGREEMENTS  (concluded)

 

organizational structure, senior management, investment operations, and other relevant information. The Board concluded that, within the context of its full deliberations, the nature, extent, and quality of the services to be provided to the Funds by the Adviser and Subadvisers supported the approval of the agreements.

Performance

The Board considered the investment performance of each Fund, including any periods of outperformance and underperformance, both on an absolute basis and a comparative basis to indices and other funds within the same investment categories. Specifically, the Board considered each Fund’s performance relative to its peer group and appropriate benchmarks in light of total return, yield, and market trends. As part of this review, the Board considered the composition of the peer group and selection criteria, as well as market risk and shareholder risk expectations. The Board considered the Adviser’s and Subadvisers’ explanations regarding specific performance issues. The Board concluded that, within the context of its full deliberations, the performance of the Funds, the Adviser, and the Subadvisers supported the approval of the agreements.

Fund Expenses

With respect to advisory fees, the Board considered the rate of compensation under the agreements and each Fund’s net operating expense ratio in comparison to those of comparable mutual funds. The Trustees also considered information about average expense ratios of comparable mutual funds in each Fund’s peer group. Finally, the Trustees considered the effect of the Adviser’s and Subadvisers’ waiver and reimbursement of fees and expenses, where applicable, to prevent total expenses from exceeding a specified amount and that, due to these waivers and reimbursements, net operating expenses have been maintained at competitive levels. The Board concluded that, within the context of its full deliberations, the expenses of the Funds are reasonable and supported the approval of the agreements.

Profitability

The Board reviewed information about the profitability of the Funds to the Adviser and Subadvisers and considered whether the level of profitability was reasonable and justified in light of the quality of the services rendered to the Funds. The Board concluded that, within the context of its full deliberations, the profitability of the Adviser and Subadvisers is within the range the Board considered reasonable.

Economies of Scale

The Board considered the existence of economies of scale and whether they were passed along to Fund shareholders through a graduated advisory fee schedule or other means, including any fee and expense waivers and reimbursements by the Adviser and Subadvisers. The Board concluded that, within the context of its full deliberations, the Funds obtain reasonable benefit from economies of scale.

 

201


ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Expense Examples

As a shareholder of the RidgeWorth Funds, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases; and (2) ongoing costs, including management fees, 12b-1 distribution and/or service fees, and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the RidgeWorth Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

These examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2012 through March 31, 2013.

Actual Expenses

The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

 

Fund

   Class      Beginning
Account Value
10/01/12
     Ending
Account Value
03/31/13
     Expenses Paid
During Period*
10/01/12-03/31/13
     Expense Ratio
During Period**
10/01/12-03/31/13
 

Core Bond Fund

     I Shares         $1,000.00         $999.80         $1.99         0.40
     A Shares         1,000.00         998.30         3.54         0.71   
     R Shares         1,000.00         997.60         4.18         0.84   

Corporate Bond Fund

     I Shares         1,000.00         1,006.00         3.00         0.60   
     A Shares         1,000.00         1,004.50         4.55         0.91   
     C Shares         1,000.00         1,001.00         7.93         1.59   

Georgia Tax-Exempt Bond Fund

     I Shares         1,000.00         1,008.30         2.85         0.57   
     A Shares         1,000.00         1,007.60         3.65         0.73   

High Grade Municipal Bond Fund

     I Shares         1,000.00         1,016.40         3.27         0.65   
     A Shares         1,000.00         1,016.40         4.02         0.80   

High Income Fund

     I Shares         1,000.00         1,072.60         3.93         0.76   
     A Shares         1,000.00         1,071.30         5.11         0.99   
     R Shares         1,000.00         1,068.60         6.40         1.24   

Intermediate Bond Fund

     I Shares         1,000.00         1,004.14         1.75         0.35   
     A Shares         1,000.00         1,002.66         3.20         0.64   
     R Shares         1,000.00         1,000.81         4.09         0.82   

Investment Grade Tax-Exempt Bond Fund

     I Shares         1,000.00         1,009.70         3.21         0.64   
     A Shares         1,000.00         1,008.90         4.01         0.80   

Limited Duration Fund

     I Shares         1,000.00         1,002.60         1.60         0.32   

Limited-Term Federal Mortgage Securities Fund

     I Shares         1,000.00         999.30         3.29         0.66   
     A Shares         1,000.00         998.30         4.28         0.86   
     C Shares         1,000.00         994.30         8.25         1.66   

North Carolina Tax-Exempt Bond Fund

     I Shares         1,000.00         1,002.70         3.05         0.61   
     A Shares         1,000.00         1,001.90         3.84         0.77   

Seix Floating Rate High Income Fund

     I Shares         1,000.00         1,038.30         3.00         0.59   
     A Shares         1,000.00         1,036.90         4.37         0.86   
     C Shares         1,000.00         1,033.60         7.71         1.52   

Seix High Yield Fund

     I Shares         1,000.00         1,065.50         2.78         0.54   
     A Shares         1,000.00         1,063.80         4.12         0.80   
     R Shares         1,000.00         1,062.90         5.35         1.04   

Short-Term Bond Fund

     I Shares         1,000.00         1,003.70         2.45         0.49   
     A Shares         1,000.00         1,002.80         3.35         0.67   
     C Shares         1,000.00         998.70         7.37         1.48   

Short-Term Municipal Bond Fund

     I Shares         1,000.00         1,007.90         2.75         0.55   
     A Shares         1,000.00         1,007.10         3.50         0.70   

Short-Term U.S. Treasury Securities Fund

     I Shares         1,000.00         998.71         2.74         0.55   
     A Shares         1,000.00         997.84         3.64         0.73   
     C Shares         1,000.00         996.57         4.88         0.98   

Total Return Bond Fund

     I Shares         1,000.00         998.70         2.04         0.41   
     A Shares         1,000.00         998.70         3.34         0.67   
     R Shares         1,000.00         996.80         4.93         0.99   

 

202


ADDITIONAL INFORMATION  (continued)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Fund

   Class      Beginning
Account Value
10/01/12
     Ending
Account Value
03/31/13
     Expenses Paid
During Period*
10/01/12-03/31/13
     Expense Ratio
During Period**
10/01/12-03/31/13
 

Ultra-Short Bond Fund

     I Shares         1,000.00         1,005.13         1.60         0.32   

U.S. Government Securities Fund

     I Shares         1,000.00         992.90         3.58         0.72   
     A Shares         1,000.00         991.80         4.72         0.95   
     C Shares         1,000.00         991.00         5.56         1.12   

U.S. Government Securities Ultra-Short Bond Fund

     I Shares         1,000.00         1,000.70         1.85         0.37   

Virginia Intermediate Municipal Bond Fund

     I Shares         1,000.00         1,003.80         2.90         0.58   
     A Shares         1,000.00         1,003.00         3.65         0.73   

 

* Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year.

 

** Annualized.

Hypothetical Example

The table below provides information about hypothetical account values and hypothetical expenses based on each RidgeWorth Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) or redemption fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

Fund

   Class      Beginning
Account Value
10/01/12
     Ending
Account Value
03/31/13
     Expenses Paid
During Period*
10/01/12-03/31/13
     Expense Ratio
During Period**
10/01/12-03/31/13
 

Core Bond Fund

     I Shares         $1,000.00         $1,022.94         $2.02         0.40
     A Shares         1,000.00         1,021.39         3.58         0.71   
     R Shares         1,000.00         1,020.74         4.23         0.84   

Corporate Bond Fund

     I Shares         1,000.00         1,021.94         3.02         0.60   
     A Shares         1,000.00         1,020.39         4.58         0.91   
     C Shares         1,000.00         1,017.00         8.00         1.59   

Georgia Tax-Exempt Bond Fund

     I Shares         1,000.00         1,022.09         2.87         0.57   
     A Shares         1,000.00         1,021.29         3.68         0.73   

High Grade Municipal Bond Fund

     I Shares         1,000.00         1,021.69         3.28         0.65   
     A Shares         1,000.00         1,020.94         4.03         0.80   

High Income Fund

     I Shares         1,000.00         1,021.14         3.83         0.76   
     A Shares         1,000.00         1,020.00         4.99         0.99   
     R Shares         1,000.00         1,018.75         6.24         1.24   

Intermediate Bond Fund

     I Shares         1,000.00         1,023.19         1.77         0.35   
     A Shares         1,000.00         1,021.74         3.23         0.64   
     R Shares         1,000.00         1,020.84         4.13         0.82   

Investment Grade Tax-Exempt Bond Fund

     I Shares         1,000.00         1,021.74         3.23         0.64   
     A Shares         1,000.00         1,020.94         4.03         0.80   

Limited Duration Fund

     I Shares         1,000.00         1,023.34         1.61         0.32   

Limited-Term Federal Mortgage Securities Fund

     I Shares         1,000.00         1,021.64         3.33         0.66   
     A Shares         1,000.00         1,020.64         4.33         0.86   
     C Shares         1,000.00         1,016.65         8.35         1.66   

North Carolina Tax-Exempt Bond Fund

     I Shares         1,000.00         1,021.89         3.07         0.61   
     A Shares         1,000.00         1,021.09         3.88         0.77   

Seix Floating Rate High Income Fund

     I Shares         1,000.00         1,021.99         2.97         0.59   
     A Shares         1,000.00         1,020.64         4.33         0.86   
     C Shares         1,000.00         1,017.35         7.64         1.52   

Seix High Yield Fund

     I Shares         1,000.00         1,022.24         2.72         0.54   
     A Shares         1,000.00         1,020.94         4.03         0.80   
     R Shares         1,000.00         1,019.75         5.24         1.04   

Short-Term Bond Fund

     I Shares         1,000.00         1,022.49         2.47         0.49   
     A Shares         1,000.00         1,021.59         3.38         0.67   
     C Shares         1,000.00         1,017.55         7.44         1.48   

 

203


ADDITIONAL INFORMATION  (concluded)

 

RIDGEWORTH FUNDS    March 31, 2013

(Unaudited)

 

Fund

   Class      Beginning
Account Value
10/01/12
     Ending
Account Value
03/31/13
     Expenses Paid
During Period*
10/01/12-03/31/13
     Expense Ratio
During Period**
10/01/12-03/31/13
 

Short-Term Municipal Bond Fund

     I Shares         1,000.00         1,022.19         2.77         0.55   
     A Shares         1,000.00         1,021.44         3.53         0.70   

Short-Term U.S. Treasury Securities Fund

     I Shares         1,000.00         1,022.19         2.77         0.55   
     A Shares         1,000.00         1,021.29         3.68         0.73   
     C Shares         1,000.00         1,020.04         4.94         0.98   

Total Return Bond Fund

     I Shares         1,000.00         1,022.89         2.07         0.41   
     A Shares         1,000.00         1,021.59         3.38         0.67   
     R Shares         1,000.00         1,020.00         4.99         0.99   

Ultra-Short Bond Fund

     I Shares         1,000.00         1,023.34         1.61         0.32   

U.S. Government Securities Fund

     I Shares         1,000.00         1,021.34         3.63         0.72   
     A Shares         1,000.00         1,020.19         4.78         0.95   
     C Shares         1,000.00         1,019.35         5.64         1.12   

U.S. Government Securities Ultra-Short Bond Fund

     I Shares         1,000.00         1,023.09         1.87         0.37   

Virginia Intermediate Municipal Bond Fund

     I Shares         1,000.00         1,022.04         2.92         0.58   
     A Shares         1,000.00         1,021.29         3.68         0.73   

 

* Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year.

 

** Annualized.

Proxy Voting Information

Information regarding the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling 1-888-784-3863. The information also is included in the Funds’ Statement of Additional Information, which is available on the Funds’ website at www.ridgeworth.com and on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov. Information relating to how each Fund voted proxies relating to portfolio securities held during the most recent twelve months ended June 30 is available on the Funds’ website at www.ridgeworth.com and on the SEC’s website at www.sec.gov.

Quarterly Portfolio Holdings Information

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available free of charge on the SEC’s website at www.sec.gov. You may also review or, for a fee, copy those documents by visiting the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330.

 

204


INVESTMENT ADVISER:

RidgeWorth Investments®

3333 Piedmont Road, NE, Suite 1500

Atlanta, Georgia 30305

www.ridgeworth.com

INVESTMENT SUBADVISERS:

 

Seix Investment Advisors LLC

10 Mountainview Road, Suite C-200

Upper Saddle River, New Jersey 07458

www.seixadvisors.com

StableRiver Capital Management LLC

3333 Piedmont Road, NE, Suite 1500

Atlanta, Georgia 30305

www.stableriver.com

 

 

This information must be preceded or accompanied by a current prospectus for each Fund described. An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about RidgeWorth Funds can be found in the Fund’s prospectus. For additional information, please call 1-888-784-3863, or visit www.ridgeworth.com. Please read the prospectus carefully before investing.

DISTRIBUTOR:

RIDGEWORTH DISTRIBUTORS LLC

Not FDIC Insured No Bank Guarantee • May Lose Value

 

LOGO

RFAR-FI-0313

 

LOGO


Item 2. Code of Ethics.

 

(a) RidgeWorth Funds (the “Registrant”) has adopted a Code of Ethics that applies to the Registrant’s principal executive officer and principal financial officer.

 

(b) No disclosures are required by this Item 2(b).

 

(c) The Registrant’s Code of Ethics was amended on February 27, 2013, to clarify when the waiver to the Code of Ethics will be granted, to include a document retention policy and make another non-material changes.

 

(d) There have been no waivers granted by the Registrant to individuals covered by the Registrant’s Code of Ethics during the reporting period for this Form N-CSR.

 

(e) Not applicable.

 

(f) A copy of the Registrant’s Code of Ethics is attached as an exhibit to this Form N-CSR.

 

Item 3. Audit Committee Financial Expert.

 

(a)    (1)   The Board of Trustees of the Registrant has determined that the Registrant has at least one member serving on the Registrant’s Audit Committee that possesses the attributes identified in Instruction 2(b) of Item 3 to Form N-CSR to qualify as “audit committee financial expert.”
   (2)   The names of the audit committee financial expert are Connie McDaniel and Tim Bentsen. Each audit committee financial expert has been deemed to be “independent” as that term is defined in Item 3(a)(2) of Form N-CSR.

 

Item 4. Principal Accountant Fees and Services.

(a)    Audit Fees - The aggregate fees billed for the last two fiscal years ended March 31 for professional services rendered by the principal accountant to the Registrant for the annual audit of the Registrant’s financial statements or services normally provided by the accountant in connection with statutory and regulatory filings or engagements for the those fiscal years are set forth below.

 

     March 31, 2013      March 31, 2012  

Audit Fees

   $ 487,140       $ 476,795   

(b)    Audit Related Fees – The aggregate fees billed for the last two fiscal years ended March 31 for professional services rendered by the principal accountant to the Registrant for assurance and related services rendered by the principal accountant to the Registrant that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under paragraph (a) of this Item 4 are set forth below.

 

     March 31, 2013      March 31, 2012  

Audit-Related Fees

   $ 0                $ 0              

There were no fees billed for the last two fiscal years ended March 31 for assurance and related services rendered by the principal accountant to the investment adviser that are reasonably related to the performance of the audit of the Registrant’s financial statements that were required to be pre-approved by the Audit Committee as described in paragraph (e)(1) of this Item 4.

(c)    Tax Fees—The aggregate fees billed for the last two fiscal years ended March 31 for professional services rendered by the principal accountant to the Registrant for tax compliance, tax advice and tax


planning are set forth below. PWC is engaged to review and sign the Federal Income and Excise returns, along with review excise distributions.

 

     March 31, 2013      March 31, 2012  

Tax Fees

   $ 174,635       $ 179,526   

There were no fees billed for the last two fiscal years ended March 31 for professional services rendered by the principal accountant to the investment adviser for tax compliance, tax advice and tax planning that were required to be pre-approved by the Audit Committee as described in paragraph (e)(1) of this Item 4.

(d)    All Other Fees—The aggregate fees billed for the last two fiscal years ended March 31 for products and services provided by the principal accountant to the Registrant, other than the services reported in paragraph (a) – (c) of this Item 4 are set forth below.

 

     March 31, 2013      March 31, 2012  

All Other Fees

   $ 0                  $ 0              

There were no fees billed for the last two fiscal years ended March 31 for products and services provided by the principal accountant to the investment adviser that were required to be pre-approved by the Audit Committee as described in paragraph (e)(1) of this Item 4.

(e)(1)    Audit Committee’s Pre-Approval Policies and Procedures

RIDGEWORTH FUNDS

Audit and Non-Audit Services Pre-Approval Policy

I.    Statement of Principles

As set forth in the chart below, the Sarbanes-Oxley Act of 2002 (the “Act”), and rules adopted by the Securities and Exchange Commission (“SEC”) require that the Audit Committee of the Board of Trustees pre-approve all audit services and non-audit services provided to RidgeWorth Funds (the “Trust”) and its portfolios (the “Funds”) by its independent accountant (“Auditor”), as well as non-audit services provided by the Auditor to the Funds’ investment adviser and to affiliates of the adviser that provide ongoing services to the Funds (“Service Affiliates”), listed on Appendix A, if the services directly impact the Funds’ operations and financial reporting.1

Where Pre-Approval is Required

 

    

Audit

Service

   Non-Audit Service

Fund                    

           Yes             Yes

Adviser

   No   

Yes, if directly related to Fund

operation and financial reporting

Service

Affiliate

   No   

Yes, if directly related to Fund

operation and financial reporting

 

 

 

 

1  The Audit Committee also is permitted to ratify the provision of inadvertent non-audit services, but only if:
¡ the value of all such services do not exceed 5% of total revenues paid by the Trust and Service Affiliates to the Auditor in the fiscal year when services are provided;
¡ the services were not recognized as non-audit services at the time they were provided; and
¡ the services are promptly brought to the attention of the Audit Committee and approved prior to the completion of the audit.


The following policies and procedures (except Section IX) govern the ways in which the Audit Committee will pre-approve audit and various types of non-audit services that the Auditor provides to the Trust and to Service Affiliates. These policies and procedures do not apply in the case of audit services that the Auditor provides to Service Affiliates, nor do they apply to services that an audit firm other than the Auditor provides to such entities.

These policies and procedures comply with the requirements for pre-approval, but also provide a mechanism by which management of the Trust may request and secure pre-approval of audit and non-audit services in an orderly manner with minimal disruption to normal business operations. Pre-approval of non-audit services by the Auditor may be achieved through a combination of the procedures described in Section VI below.

With respect to non-audit services that may be provided to the Trust by an accounting firm other than the Auditor, the Chairperson of the Audit Committee is authorized to pre-approve such services in accordance with the procedures described in Section IX below.

II.    Audit Services

The annual audit services engagement scope and terms will be subject to the specific pre-approval of the Audit Committee. Audit services include the annual financial statement audit (including required rating agency reviews) and other procedures required to be performed by the independent auditor to be able to form an opinion on the Trust’s financial statements. The Audit Committee will monitor the audit services engagement throughout the year and will also approve, if necessary, any changes in terms and conditions resulting from changes in audit scope, Fund structure or other items. The Audit Committee will pre-approve all audit services for the Trust.

III.    Audit-related Services

Audit-related services are assurance and related services that are reasonably related to the performance of the audit or review of the Trust’s financial statements or that are traditionally performed by the Auditor. The Audit Committee will pre-approve all audit-related services for the Trust.

IV.    Tax Services

Tax services to the Trust include tax compliance, tax planning and tax advice. The Audit Committee will review all proposed tax related services to assure that their provision would not impair the independence of the Auditor. The Audit Committee will pre-approve all tax services for the Trust.

V.    All Other Services

While the SEC’s rules prohibit the Auditor from providing specific non-audit services, as listed on Appendix A, certain other types of non-audit services are permitted. Accordingly, the Audit Committee believes it may pre-approve those permissible non-audit services classified as All Other Services that it believes would not impair the independence of the Auditor, and are consistent with the SEC’s rules on auditor independence. The Audit Committee will pre-approve all other services for the Trust.

VI.    Procedures

 

  A. Regular Pre-Approval Procedures

The Audit Committee shall pre-approve at its regularly scheduled meetings the audit, audit-related, tax and other non-audit services to be rendered by the Auditor to the Trust and those non-audit services to be rendered by the Auditor to the Service Affiliates that require pre-approval by the Audit Committee. In connection with such pre-approvals, the Auditor, or the President and/or Treasurer with the assistance of the Auditor, shall provide the Audit Committee with a report containing


information about each type of service to be pre-approved at the meeting, an explanation of why the service is being performed, and projected fees.

The Auditor shall notify the President, Treasurer, and Chairperson of the Audit Committee as soon as practicable regarding its engagement to provide Fund-related non-audit services to Service Affiliates.

 

  B. Interim Pre-Approval Procedures

If, in the opinion of the President and/or Treasurer, a proposed engagement needs to commence before the next regularly scheduled Audit Committee meeting, the Chairperson of the Audit Committee (the “Chairperson”) is authorized to pre-approve the engagement so long as the amount to be paid to the Auditor would not exceed $50,000. The President and/or Treasurer will coordinate with the Chairperson and provide to the Chairperson, with the assistance of the Auditor, information about the service to be considered for pre-approval. The Auditor may not commence the engagement under consideration until the President and/or Treasurer has indicated that pre-approval has been obtained from the Chairperson. The Chairperson will report any interim pre-approval decisions to the Audit Committee at its next regularly scheduled meeting.

VII.    Recordkeeping

The Trust shall maintain a written record of all decisions made by the Audit Committee or by the Chairperson of the Audit Committee pursuant to these procedures, together with appropriate supporting material. In connection with the ratification of any inadvertent non-audit services, a record shall be made indicating that each of the conditions for this exception to the pre-approval requirement has been satisfied.

VIII.    Amendment

The Audit Committee may review and amend these policies and procedures from time to time as it deems appropriate.

IX.    Interim Pre-Approval of Non-Audit Services By Other Accounting Firms

If, in the opinion of the President and/or Treasurer, a proposed engagement for non-audit services to the Trust by an accounting firm other than the Auditor needs to commence before the next regularly scheduled Audit Committee meeting, the Chairperson is authorized to pre-approve the engagement so long as the amount to be paid to the accounting firm would not exceed $50,000. The Chairperson will report any interim pre-approval decisions to the Audit Committee at its next regularly scheduled meeting.

Adopted: March 1, 2012

Amended

 

 

 

Appendix A

Service Affiliates Subject to Pre-Approval of Non-Audit Services

 

Including, but not limited to:

RidgeWorth Capital Management, Inc. and its subsidiaries.

Zevenbergen Capital Investments LLC

 

Prohibited Non-Audit Services


 

Bookkeeping or other services related to the accounting records or financial statements of the audit client;

 

 

Financial information systems design and implementation;

 

 

Appraisal or valuation services, fairness opinions, or contribution-in-kind reports;

 

 

Actuarial services;

 

 

Internal audit outsourcing services;

 

 

Management functions or human resources;

 

 

Broker or dealer, investment adviser, or investment banking services;

 

 

Legal services and expert services unrelated to the audit.

(e)(2)    Percentage of Services—None of the services summarized in (b)-(d), above, were approved by the Audit Committee pursuant to Rule 2-01(c)(7)(i)(C) of Regulation S-X.

(f)    No disclosures are required by this Item 4(f).

(g)    The aggregate non-audit fees billed for the last two fiscal years ended March 31 for services rendered by the principal accountant to the Registrant are set forth below.

 

March 31, 2013

             March 31, 2012          

$174,635     

         $179,526           

The approximate aggregate non-audit fees billed for the last two fiscal years ended March 31 for services rendered by the Registrant’s principal accountant to the Registrant’s investment adviser, and any other entity controlling, controlled by, or under common control with the Registrant’s investment adviser that provides ongoing services to the Registrant are set forth below.

 

March 31, 2013

             March 31, 2012          

$53,100,000

         $17,100,000      

Services for which the non-audit fees were billed relate principally to mortgage compliance reviews, general corporate and state and local tax assistance and accounting matters, and various strategic reporting consulting projects.

(h)    In regards to Item 4 (g), the Audit Committee has considered that the provision of non-audit services that were rendered to the Registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

 

Item 5. Audit Committee of Listed Registrants.

Not applicable.

 

Item 6. Schedule of Investments.

 

(a) Schedule of Investments is included as a part of the reports to shareholders filed under Item 1 of this Form N-CSR.


(b) Not applicable.

 

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

 

Item 8. Portfolio Managers of Closed-End Investment Companies.

Not applicable.

 

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

 

Item 10. Submission of Matters to a Vote of Security Holders.

The Board of Trustees has not adopted formal procedures by which shareholders may recommend nominees to the Board of Trustees.

 

Item 11. Controls and Procedures.

(a)    The Registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as conducted within 90 days of the filing date of this report, that these disclosure controls and procedures are adequately designed and are operating effectively to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b)    There were no changes in the Registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

 

Item 12. Exhibits.

 

(a)    (1)   Code of Ethics described in Item 2 is attached hereto.
   (2)   The certifications required by Rule 30a-2(a) of the 1940 Act are attached hereto.
   (3)   Not applicable.

(b)    The certifications required by Rule 30a-2(b) of the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

RIDGEWORTH FUNDS
By:   /s/ Julia R. Short
 

Julia R. Short

President

Date:   June 7, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

By:   /s/ Julia R. Short
 

Julia R. Short

President

Date:   June 7, 2013

 

By:   /s/ Denise R. Lewis
 

Denise R. Lewis

Treasurer

Date:   June 7, 2013